Kenan Advantage Group (KAG) announced Tuesday it has acquired bulk tank hauler TransVac.
Abbeville, Louisiana-based TransVac primarily provides tank transportation of chemicals, plastics, petroleum products and water treatment products. The company also provides disposal services for drilling muds at oil and gas wells. It has 45 power units and 43 drivers, according to the Federal Motor Carrier Safety Administration (FMCSA). All of its drivers are hazmat-certified.
Financial terms of the transaction were not disclosed.
“There is so much upside to bringing TransVac and its skilled employees into the KAG family of companies,” said John Rakoczy, executive vice president of operations at KAG Specialty, in a news release. “The combination provides us with a highly specialized fleet of trailing assets that will allow us to expand our service offering to existing chemical customers with additional capacity, especially in the Louisiana and Arkansas markets.”
The deal also provides incremental chemical storage space.
North Canton, Ohio-based KAG is the largest tank trucking company in North America, with a fleet of approximately 5,800 tractors across its various brands, according to the FMCSA. It operates roughly 300 terminals, providing bulk transportation of fuels, energy products, chemicals and food products. KAG Logistics acts as a broker in the same markets, providing capacity solutions, managed transportation and logistics services.
Backed by Omers Private Equity, the company was reported to be exploring a public listing earlier this year.
“Through this partnership, we are happy to provide additional career opportunities for TransVac’s professional drivers and operations team, who understand their customers’ business needs and the uniqueness of the chemical transportation industry,” said Brooke Roth, vice president of operations at KAG Specialty.