The Kenan Advantage Group (KAG) recently acquired Northern Dry Bulk, a Michigan-based bulk transporter that specializes in hauling and storing resins for the automotive, packaging, and electronics industries, and other end markets in the U.S. and Canada.
Terms of the transaction, which includes 36 tractors and 91 trailers, were not disclosed.
The acquisition is KAG’s third in the last five months, following the additions of Idaho Milk Transport and Koppers Performance Chemicals late last year, and Florida Food Tankers in January.
“The acquisition of Northern Dry Bulk establishes a definitive entrance into the dry bulk transportation business for our company and perfectly aligns with our strategic growth initiatives to expand into new end markets,” John Rakoczy, KAG executive vice president of specialty products, stated in a news release. “The transaction also fulfills the needs of many of our current liquid bulk customers who also manufacture and distribute dry bulk materials.”
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Northern Dry Bulk drivers, technicians, and operational support personnel will join KAG as part of the transaction, the companies said. The deal also includes two terminals with two maintenance bays, extensive warehouse space and transloading equipment, allowing KAG to continue expanding its service offerings.
“In 1994, we started with one truck and a simple plan—to provide unmatched customer service,” said Tom Kunse, Northern Dry Bulk owner and president.
“Over the years we have become one of the most respected leaders in deliveries of plastic resins in the chemical manufacturing industry. By joining forces with KAG, both of our current and future customers will benefit from our shared knowledge, geographic footprint, and assets in a marketplace positioned for significant growth opportunities.”