Two premier tank truck carriers are joining forces.
The Kenan Advantage Group (KAG) said Monday it has completed the acquisition of K-Limited Carrier, a Toledo, Ohio-based transporter of bulk chemical products across the Midwest.
“There are tremendous opportunities to be gained by both companies through this combination,” said Charlie DeLacey, CEO of KAG. “This represents another key step in KAG’s effort to build out the industry-leading chemical logistics platform, further expanding our service capabilities and market footprint. K-Limited’s customers benefit by being able to tap into a larger network and additional services, while employees will have career growth opportunities across the KAG organization.
“We look forward to combining the energy, passion, and knowledge of our respective teams.”
As part of the transaction, approximately 100 professional drivers/independent contractors, technicians, and other operational employees will join KAG within its Specialty Products Group, the companies said. In addition, Kim Kaplan and Dean Kaplan, K-Limited’s founders and owners, will join KAG and continue to manage the day-to-day operations of their former company.
Kaplan served as the 2014-15 NTTC chairman, and, more recently, K-Limited driver Barbara Herman was named the first female NTTC Professional Tank Truck Driver of the Year for 2018-19.
“We are extremely pleased to combine our operations with KAG as we truly believe it is the right partner at the right time for K-Limited to set the foundation for its future success,” the Kaplans said. “We’re excited to join the recognized industry leader and continue our contributions to our team, our customers, and our industry that have served us so well for so many years.”
KAG also will acquire approximately 95 tractors, 195 trailers, and terminal and satellite locations in Toledo, Cincinnati, and Cleveland, Ohio; Detroit, Mich.; and Chicago, Ill, which KAG said are ideal locations for current and future customers in the heartland of manufacturing. K-Limited primarily hauls oils and lubricants, acids, petrochemicals, and solvents.
“Both companies put the safety and needs of our employees and customers first, which will make this a very smooth transition,” said Grant Mitchell, KAG president and COO. “K-Limited has built a very strong and successful organization with a family-oriented culture aligning well with what we continue to foster at KAG.
“This will enable us to continue to grow our Specialty Products division. We’ve prided ourselves on acquiring the ‘best of the best’ organizations over the years, and K-Limited is a great example of this strategy.”
