Platinum Equity has acquired specialized haulier Keen Transport Company in the USA for an undisclosed sum. The acquisition includes Keen Transport, Inc. and Cressler Trucking, Inc.
Keen Transport offers heavy-haul logistics and transportation services for the construction, mining and agriculture equipment markets nationwide. Cressler Trucking is a general commodity carrier that provides packaged goods transportation, primarily in the Northeast United States.
"Partnering with Platinum Equity is very exciting for our organisation, our customers, and all of our partners," said Bill Keen who will remain in his position as chief executive officer. "Platinum understands our business and supports the integrity upon which this company has been built," continued Keen, who is a past SC&RA president.
"Keen Transport has a rich heritage and a well-deserved reputation for quality service," said Brian Wall, the partner at Platinum Equity who led the team pursuing the acquisition. "We share Bill Keen's commitment to hard work, honesty and reliability. We look forward to working with Bill as Keen Transport takes the next step in realising its full potential," Wall continued.
Keen Transport was founded by Harold Keen and has been owned by the Keen family for 43 years. It specializes in transporting large and oversize equipment. It also offers value-added logistics, light assembly, painting, installation of aftermarket accessories, storage, and managed logistics services at 13 facilities near US ports and co-located with customer production facilities.
Platinum Equity is a global firm specializing in the merger, acquisition and operation of companies in a broad range of markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since it was started by Tom Gores in 1995, it has completed more than 125 acquisitions.