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A&R Logistics acquires LT Harnett

Aug. 21, 2020
Second pickup in six months, following deal to add First Choice, expands company’s chemical supply chain platform

A&R Logistics, a supply chain services provider for the chemical industry and Wind Point Partners portfolio company, recently acquired LT Harnett (LTH), which delivers bulk liquid transportation and logistics services.

This is A&R’s second acquisition of a liquid chemical supply chain services provider in the past six months, following its acquisition of First Choice Logistics (FCL) in February.

“We are very happy to welcome the LTH team to A&R and we congratulate Dr. (David) Harnett and his team on the strong business they have built at LTH,” said Mark Holden, CEO of A&R. “Our recent acquisition of FCL was very well received among A&R’s customer base, who urged us to complement our best-in-class dry bulk services with liquid chemical capabilities for many years, and we have been eager to continue building scale in this critical segment of the chemical supply chain.

“We are delighted to expand our liquid chemical capabilities, geographic coverage and scope of services with the acquisition of LTH.”

With a network of five strategically located terminals in OhioIndiana and Illinois, LTH provides over-the-road bulk transportation solutions to leading North American liquid chemical producers and diversified industrial companies. Founded in 1944, LTH is known for its history of providing reliable service, consistently sustaining a superior safety record, and maintaining robust driver recruitment and retention due to a strong culture cultivated through decades of operation.

The entire LTH leadership team will join A&R at the time of the transaction, and the Harnett family will become a major independent investor in the company, A&R said.

“I would like to thank our management team, drivers and employees for being such great partners to me and my family for so many years,” said Harnett, president and CEO of LTH. “I have great conviction that A&R management will be an excellent steward of our business and a great partner to our employees, and I look forward to seeing our business prosper with A&R.

“Starting with my father, Leroy Templeton Harnett, our family has been in the transportation business for over 75 years, and we are excited to partner with a world-class operation like A&R and carry on the family’s legacy.”

In January 2020, A&R recruited liquid supply chain veteran David Perry to spearhead the company’s entry into the liquid chemical services space, which occurred shortly thereafter through the purchase of FCL. LTH expands A&R’s geographic coverage for liquid services beyond Illinois and the Gulf of Mexico into OhioIndianaPennsylvania and the surrounding region. The acquisition also adds a variety of new service lines and customer relationships to the A&R platform.

Wind Point Partners acquired A&R in May of 2019 in partnership with Holden, a veteran executive in the logistics space who previously led four separate investments to a successful sale or IPO. This represents the fourth add-on for A&R under Wind Point’s ownership, following the additions of Blue Water Plastic Transport in June 2019, Plantgistix in November 2019, and FCL in February. A&R’s acquisition strategy will continue to focus on acquiring companies that provide dry and liquid bulk transportation, warehousing, and logistics services to producers and distributors of chemicals and plastics. 

“LTH represents an excellent addition to A&R’s emerging liquid platform, more than doubling the revenue A&R generates in this attractive segment of the chemical supply chain,” said Konrad Salaber, managing director with Wind Point. “Establishing and subsequently expanding A&R’s liquid chemical solutions was a core element of our value creation plan, and we are thrilled to see LTH join the A&R family. 

“We look forward to continuing to build upon our liquid chemical network.”

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Commercial Vehicle Staff | staff