KAG Logistics Closes Acquisition of American PetroLog
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KAG Logistics has completed its acquisition of American PetroLog, the company announced June 16.
American PetroLog, based in Lafayette, La., is a multimodal distribution service provider to the petrochemical industry. It provides logistics, transportation, storage and transloading for various fuel, chemical and food commodities. KAGL provides logistics services to the petroleum, renewable fuels, specialty products, food products and merchant gas supply chains.
“There are tremendous synergies between our two organizations which we plan to capitalize on as we hit the ground running on day one,” KAGL President Kevin Spencer said in a statement. “American PetroLog has an impeccable reputation in our shared end markets and is committed to solving the complex supply chain challenges of our combined customers today and our potential customers in the future.”
KAG Logistics is a subsidiary of tank truck transporter and logistics provider Kenan Advantage Group Inc. The American PetroLog team of logistics professionals will be joining the company as part of the acquisition. That includes company President Jeff Colonna.
“We are excited about the opportunities this partnership with KAGL will provide our team and our customers,” Colonna said. “The timing is also significant with many shippers seeking to secure reliable capacity after the supply chain disruption faced by many over the last two years.”
Tenney Group, an industry-specialized merger and acquisition advisory firm, acted as transaction adviser to American PetroLog.
“This transaction is a great win for both parties,” Tenney Group CEO Spencer Tenney said. “It also demonstrates how record level M&A activity is changing the competitive landscape in logistics.”
Kenan Advantage Group ranks No. 24 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. — Transport Topics
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