Check out this roundup of recent trucking fleet acquisitions in the past month.
KAG Logistics Acquires Connectrans
KAG Logistics completed the acquisition of Toronto-based cross-border freight transportation company Connectrans Logistics.
Connectrans has an established carrier network between the U.S. and Canada with expertise in transportation solutions within dry van, temperature control, flatbed, over-dimensional and intermodal.
“The acquisition of Connectrans expands our footprint into the Canadian logistics market, which is strategic to our future growth plans, particularly in our specialty products division,” KAGL President Kevin Spencer said in a press release. “It also allows us to continue strengthening our cross-border experience as we serve our current and potential Canadian and U.S. customers that flourish in both marketplaces.”
The acquisition will also give Connectrans customers more access to the U.S. marketplace, specialized assets, technologies and additional logistics expertise, said Connectrans President and General Manager Steve Hodowany.
KAG Logistics is a subsidiary of The Kenan Advantage Group, a tank truck transporter and logistics provider. The company operates through its six operating groups consisting of KAG Energy, KAG Specialty Products, KAG Food Products, KAG Merchant Gas, KAG Canada and KAG Logistics
Bay & Bay Transportation Ditches Tanker Operation
Bay & Bay Transportation’s tanker operation out of Burnsville, Minnesota, has been acquired by McCoy Group, a parent company of tank transportation company Foodliner.
Foodliner will operate the tank trucking business out of the Burnsville facility, while Bay & Bay’s dedicated trucking teams have moved to the company’s Eagan, Minnesota, facility.
Bay & Bay offers tank transportation services to the Midwest market in addition to national refrigerated trucking and logistic services. The refrigerated and the multi-modal logistics segments at Bay and Bay have grown on-average more than 30% annually the past three years, according to the company. This divestiture allows Bay and Bay to further focus and invest in these segments, which make up 97% of annual revenue.
Recently, Bay and Bay acquired a facility in northern Indiana. Along with the Midwest terminal, Bay and Bay invested in additional equipment and welcomed northern Indiana team members.
TA Services Accelerates West Coast Expansion
TA Services, a full-service logistics provider and subsidiary of PS Logistics, acquired San Diego, California-based KPI Logistics, a multimodal third-party logistics provider specializing in truckload, less-than-truckload, flatbed, and managed transportation services.
The acquisition accelerates TA Services’ growth to over $750 million in revenue, 800 employees, and 22 global locations, spanning from Monterrey, Mexico, to Toronto, Canada. KPI Logistics’ San Diego office expands TA Services’ U.S. footprint to coast-to-coast coverage and provides a greater presence on the West Coast. “This combination will further expand TA’s West Coast footprint and diversify our market reach into the automotive industry, chemicals and energy industry, including solar power, and consumer goods industry,” said Scott Schell, CEO and president of TA Services.
Ruan Acquires Regional Dedicated Carrier
Ruan acquired National Truck Brokers, a dedicated carrier headquartered in Grand Rapids, Michigan.
NTB will continue to operate as a separate, independent member of the Ruan family of companies. NTB will maintain its name and brand, leadership structure, and facility locations.
NTB is a family-owned company with more than 235 trucks and 270 team members hauling for grocery customers in Michigan, Indiana, Illinois, Iowa, Ohio, Kentucky and Wisconsin.
“Growth through acquisition has been relatively uncommon at Ruan, but we have done so selectively when there’s a true, strategic fit and the opportunity to sustain and strengthen relationships with important customers. We’ve found these positive elements at NTB,” said Ruan’s CEO Ben McLean in a press release. “Both companies were founded by their first truck drivers, Dan Koster and John Ruan, so the two organizations have shared a foundational focus on safety throughout their histories. In addition, we prioritize family and strive to be a great place to work for our team members. We provide exceptional customer service to long-standing partners, and we support our communities through philanthropic efforts. As we move forward together, our continued success will be enabled by the same grit and determination that our founders and family members have demonstrated to build and grow our companies.”
Over the next several months, NTB’s entire fleet of trucks will be replaced by late-model Freightliner units as an enhancement for NTB’s driving team members.
See all comments