Kenan Advantage Group acquires Carbon Express
Photo courtesy of Carbon Express

Kenan Advantage Group acquires Carbon Express

Carbon Express, which transports liquid bulk products throughout North America, including chemicals, transformer oil, motor oil, lubricants and water treatment chemicals, has been sold to The Kenan Advantage Group, Inc. or KAG.  Carbon Express is headquartered in Wharton, New Jersey, U.S.A. 

Financial terms of the transaction were not disclosed.

KAG is the largest tank truck transporter and logistics provider in North America. The company operates through its six operating groups consisting of KAG Energy, KAG Specialty Products, KAG Food Products, KAG Merchant Gas, KAG Canada and KAG Logistics.

“The acquisition of Carbon Express is another great strategic fit to our expansion in the specialty products market. Their operating region and customer base complements our footprint today, but also provides additional expansion opportunities in the Northeastern U.S. Along with a tremendous attention to customer service, the leadership team focuses on an employee centric model with a strong emphasis on safety. This commitment is important to all of us,” said Karen Rizzuto, KAG’s SVP of Operations, Specialty Products.

As part of the transaction, the entire Carbon Express team will join KAG within its Specialty Products division, including approximately 65 professional drivers/independent contractors. 

Carbon Express’ Executive Chairman and founder Steve Rush will remain with the company throughout the transition and President, Sean McAllister, will continue to manage the daily operations. McAllister will also look to capitalize on growth opportunities with the additional assets and resources KAG can provide.

“We believe in serving our customers first and foremost,” said Rush.”We’ve been committed to building a strong and positive reputation with our customers and our employees for many years. By joining KAG, we believe we are remaining true to this commitment and are excited about the future potential going forward,” Rush said.

Bengur Bryan & Co., Inc. acted as the exclusive financial advisor to Carbon Express.

Greenberg Dauber Epstein & Tucker, P.C. acted as legal counsel to Carbon Express, and Buckingham, Doolittle & Burroughs, LLC acted as legal counsel to KAG.

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