New Jersey-based Carbon Express Inc. has been acquired by tank truck transporter and logistics provider Keenan Advantage Group, Inc. (KAG).
On October 7, 2022, Carbon Express announced the completion of the sale of 100% of the company to KAG. The financial terms of the acquisition were not disclosed.
Carbon Express was founded in 1983 and is based in Wharton, New Jersey. The company specializes in the transport of liquid bulk products.
All 65 truck drivers and independent contractors on the Carbon Express team will join the KAG team as members of the Specialty Products division.
Carbon Express’ Executive Chairman and founder Steve Rush will remain in his position throughout the transition. Carbon Express President Sean McAllister will remain in charge of day to day operations. McAllister will work to “capitalize on growth opportunities with the additional assets and resources KAG can provide.”
“We believe in serving our customers first and foremost,” commented Steve Rush. “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,” continued Rush.
According to Karen Rizzuto, KAG’s SVP 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.”