Kenan Advantage Group (KAG) is acquiring liquid bulk hauler MC Tank Transport (MCT), according to an internal MCT memo to drivers on Tuesday. The latest acquisition for KAG will also provide it with a platform to provide International Organization for Standardization (ISO) tank services.
The deal will also include MCT subsidiaries MC Leasing, KI Leasing and Liquid Solutions Tank Leasing.
West Chester, Ohio-based MCT operates out of 11 terminals throughout the Midwest, South and East as well at major ports like Houston; Charleston, South Carolina; and Savannah, Georgia. The company also has six satellite locations.
In addition to hauling acids, caustics and specialty chemicals, MCT provides ISO tank services as well as leasing and maintenance.
“KAG and its tremendous management team are a perfect partnership – their 7,000-truck platform and great financial resources bring MCT the resources and know-how to expand our footprint, capabilities, technology, and services,” stated MCT President Michael Anderson in a memo to employees. “We are far from done in our vision and goals for MCT, and I am tremendously excited for the opportunity to join the KAG team.”
MCT will continue to operate under its own banner initially and will be folded into the KAG network over time. No locations are expected to close, and the current management team will remain in place with little changes to staff.
The transaction will provide MCT with the capital to meet its customer requests for more capacity and additional services.
The MCT deal is expected to “form the foundation of KAG’s ISO Services platform that we together will see grow to a 1,000 truck operation.”
North Canton, Ohio-based KAG is the largest tank trucking company in North America. It operates 300 terminals throughout North America, providing bulk transportation of fuels, energy products, chemicals and food products.
FreightWaves has reached out to KAG and MCT for comment.
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