January 9, 2012 11:45 AM, EST
Equity Firm Buys Keen Transport, Cressler Trucking

Los Angeles-based private equity firm Platinum Equity said it has acquired Pennsylvania carrier Keen Transport Co. Terms were not disclosed.

Platinum said it was buying the parent of heavy-haul logistics company Keen Transport, Carlisle, Pa., and general commodities carrier Cressler Trucking, which operates in the Northeast.

Bill Keen, who will remain CEO of Keen Transport, declined to say why he sold his family-owned company.

Keen Transport specializes in moving large and oversize equipment. It also provides logistics, light assembly, painting and installation of aftermarket accessories at 13 facilities near U.S. ports and co-located with customer production facilities.

“Partnering with Platinum Equity is very exciting for our organization, our customers, and all of our partners,” Bill Keen said in a statement. “Platinum understands our business and supports the integrity upon which this company has been built.”

The company was founded by Harold Keen and has been owned by the Keen family for 43 years.

In December 2010, an affiliate of Platinum purchased barge operator American Commercial Lines, Jeffersonville, Ind.