Kenan Advantage Group (CCJ Top 250, No. 18) has acquired Northern Dry Bulk, a Clare, Michigan-based company that specializes primarily in the transportation and storage of plastic resins for automotive, packaging, electronic and other end markets, in the U.S. and Canada. Terms of the deal were not disclosed.
The deal does not include a related plastics recycling operation.
The acquisition of Northern Dry Bulk is KAG's entrance into the dry bulk transportation business "and perfectly aligns with our strategic growth initiatives to expand into new end markets," said KAG Executive Vice President of Specialty Products John Rakoczy. "The transaction also fulfills the needs of many of our current liquid bulk customers who also manufacture and distribute dry bulk materials.”
Northern Dry Bulk drivers, technicians and operational support members will join KAG, which will also acquire 36 tractors, 91 trailers, two terminals with two maintenance bays, warehouse space and transloading capabilities 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."
