Kenan purchases Klemm Tank Lines

Jul 2, 2003 12:00 PM

Kenan Advantage Group (KAG), Canton OH, a bulk transportation and logistics provider to the petroleum industries, has purchased Klemm Tank Lines Inc, Green Bay WI.

Klemm handles a broad range of products including fuels, asphalt, liquid petroleum gas, and chemicals. The carrier, founded in 1950, operates more than 260 power units and 410 trailers from six primary terminal locations.

With this acquisition, KAG will operate more than 2,000 power units and 2,500 trailers in 36 states.

“Our purchase of Klemm Tank Lines represents our continual search for companies that offer high value in their industry with a record of strong profitability,” said Carl Young, Kenan chief financial officer. “Klemm has a history of providing technology-enhanced, value-added services with a strong profit history, making it an ideal addition to the growing KAG organization.”

“Klemm is a powerhouse in the Wisconsin and northern Illinois region and has been led by a top-flight management team,” said Dennis Nash, Kenan chief executive officer. “We’re delighted to announce that this team will join KAG management. They demonstrate a vitality and positive outlook about business that is a common ingredient in the KAG workplace.”