Kenan Advantage Group Acquires RTL-Westcan Group
November 17, 2013
Kenan Advantage Group announced that it has completed the acquisition of RTL-Westcan Group. RTL-Westcan is a hauler of bulk commodities in western and northern Canada, serving more than 500 customers across its operating region.
The transaction closed on Nov. 15. KAG funded the acquisition with interim borrowings under its senior secured credit facility. KAG intends, subject to market conditions, to refinance a portion of its senior secured credit facility with U.S. and Canadian dollar term loans and unsecured high yield notes.
RTL-Westcan employs approximately 1,000 employees including 560 dedicated drivers and 250 field employees. The company operates a specialized fleet of approximately 480 tractors and 2,000 trailers conducting business out of 16 strategically located truck terminals in Alberta, Saskatchewan, British Columbia and the Northwest Territories. The company also operates six dry bulk warehouses, three transload facilities and a 160-million liter fuel tank farm.