Carbon Express Inc. of Wharton on Monday announced it is now a wholly owned subsidiary of the Kenan Advantage Group.
Carbon Express transports liquid bulk products throughout North America, including chemicals, transformer oil, motor oil, lubricants and water treatment chemicals.
The Carbon Express team, including approximately 65 professional drivers/independent contractors, will join KAG within its specialty products division. Carbon Express’ founder and executive chairman, Steve Rush, will remain with the company throughout the transition and President Sean McAllister will continue to manage the daily operations.
“We believe in serving our customers, first and foremost,” Rush commented. “We’ve been committed to building a strong and positive reputation with our customers and our employees for many years. By joining KAG, we believe we are remaining true to this commitment and are excited about the future potential going forward.”
According to Karen Rizzuto, KAG’s senior vice president of operations, specialty products: “The acquisition of Carbon Express is another great strategic fit to our expansion in the specialty products market. Their operating region and customer base complements our footprint today, but also provides additional expansion opportunities in the Northeastern U.S. Along with a tremendous attention to customer service, the leadership team focuses on an employee centric model with a strong emphasis on safety. This commitment is important to all of us.”
Bengur Bryan & Co. Inc. acted as the exclusive financial adviser to Carbon Express.
Greenberg Dauber Epstein & Tucker P.C. acted as legal counsel to Carbon Express, and Buckingham, Doolittle & Burroughs LLC acted as legal counsel to KAG.
