The Kenan Advantage Group (KAG) has purchased Beneto Bulk Transport of West Sacramento CA. Beneto provides KAG with significant market presence in the West Coast gasoline market, and strengthens KAG's position as a provider of transportation and logistics services to the petroleum industry.
Sterling Investment Partners and RFE Investment Partners, both aligned with KAG since 1998, also assisted in the process.
Beneto operates 237 power units and 252 trailers from 18 terminals in California, Nevada, and Arizona. Revenue for the firm in 2002 was about $72 million. With the Beneto merger, KAG now operates 1,703 power units and 2,175 trailers from operations in 36 states. KAG revenue for 2002 was $269,228,000, which ranks first among petroleum carriers and third among all North American bulk carriers.