Tank-truck logistics giant KAG continues to expand its dry bulk business with the acquisition of XBL Bulk Logistics.

The Kenan Advantage Group Inc. has acquired XBL Holdings LLC, including its subsidiaries Xcel Bulk Logistics LLC and XBL Industrial Materials LLC, from private-equity company Lilium Group LLC.

XBL is a leading dry bulk transporter providing transportation, storage, and logistics services to industrial and construction customers. 

The company, headquartered in Weatherford, Texas, operates the largest dry bulk fleet in the Carolinas, with significant capacity throughout the Gulf Coast and the Midwest.

“The transaction with XBL uniquely positions KAG to materially expand our dry bulk transportation platform in the future,” said Grant Mitchell, KAG’s President and Chief Operating Officer. 

“With their impressive market position and a diverse group of tenured, blue-chip customers, we’ve solidified our entrance into a very niche marketplace.”

As part of the transaction, KAG will welcome 162 professional drivers and 53 operational members, and add 186 tractors, 356 trailers, 10 mobile storage silos, 11 terminal and satellite locations and three maintenance facilities to its operations.

XBL Co-Founder and President Richard Hoyle explained, "It was important to our leadership team to find a partner who operates with the same principles and ambitious standards that we hold ourselves to every day — building trust through execution and creating value and long-term stability for our employees and our customers.”

Earlier this year, KAG added Michigan-based Northern Dry Bulk Inc. to its business, which specializes in transportation and storage of plastic resins for automotive, packaging, electronic and other end markets in the U.S. and Canada.