Omers Private Equity is exploring an initial public offering of Kenan Advantage Group, one of North America’s biggest tank truck transporter and logistics providers, according to sources.

Across the major logistics market segments, 2023 brought a spate of challenges including compressed margins, rising labor costs and inflationary pressures, ensuring a down year for many.

2023 was a generally downtrodden year for 3PLs, with plummeting transportation rates and shippers focused on right-sizing inventories and reducing logistics costs.

A freight market recession, compressed broker margins and major acquisitions in 2023 have markedly altered the landscape of North America’s largest third-party logistics providers.

Stubbornly weak freight market conditions have placed financial strain on 3PLs in recent years with an oversupply of truck capacity driving down rates and squeezing brokers’ margins.

Find out where the 2024 Top 100 Logistics Companies are located by regions and by state in North America with our interactive map.

PHOENIX — Third-party logistics providers have persevered through a tough freight market while taking action to stem a rising tide of fraud, 3PL industry leaders said. 

The spot market is struggling to rebalance as the rate of carriers exiting has slowed despite sluggish demand.

The world’s largest container carrier will push back against a proposed U.S. government fine that would rank among the stiffest penalties handed down by the Washington regulator.