• ITVI.USA
    13,754.510
    83.820
    0.6%
  • OTRI.USA
    21.920
    -0.140
    -0.6%
  • OTVI.USA
    13,721.420
    82.630
    0.6%
  • TLT.USA
    2.840
    0.040
    1.4%
  • TSTOPVRPM.ATLPHL
    2.480
    -0.170
    -6.4%
  • TSTOPVRPM.CHIATL
    3.070
    -0.210
    -6.4%
  • TSTOPVRPM.DALLAX
    1.370
    -0.090
    -6.2%
  • TSTOPVRPM.LAXDAL
    2.280
    -0.210
    -8.4%
  • TSTOPVRPM.PHLCHI
    1.900
    -0.070
    -3.6%
  • TSTOPVRPM.LAXSEA
    2.720
    -0.270
    -9%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    13,754.510
    83.820
    0.6%
  • OTRI.USA
    21.920
    -0.140
    -0.6%
  • OTVI.USA
    13,721.420
    82.630
    0.6%
  • TLT.USA
    2.840
    0.040
    1.4%
  • TSTOPVRPM.ATLPHL
    2.480
    -0.170
    -6.4%
  • TSTOPVRPM.CHIATL
    3.070
    -0.210
    -6.4%
  • TSTOPVRPM.DALLAX
    1.370
    -0.090
    -6.2%
  • TSTOPVRPM.LAXDAL
    2.280
    -0.210
    -8.4%
  • TSTOPVRPM.PHLCHI
    1.900
    -0.070
    -3.6%
  • TSTOPVRPM.LAXSEA
    2.720
    -0.270
    -9%
  • WAIT.USA
    127.000
    0.000
    0%
BusinessNewsTruckingTruckloadTruckload Carriers

Sale of Kenan Advantage reportedly eyed by pension fund

Tank truck carrier could bring in $2.5 billion, according to report.

The private equity arm of the Canadian pension fund OMERS is considering selling Kenan Advantage Group in a deal that could bring in $2.5 billion or more for the tank truck carrier, Bloomberg reported Tuesday, citing anonymous sources. 

OMERS Private Equity, which acquired Kenan in 2015, declined to comment on the report. But Kenan could attract significant interest from private equity firms and large transportation and logistics companies.  

Ohio-based Kenan (KAG) is North America’s largest tank truck carrier and logistics provider, serving the U.S., Canada and Mexico. It has a fleet of over 7,000 trucks.

KAG has been active on the acquisition front. The trucking and logistics company’s Canadian subsidiary, Westcan Bulk, has made two acquisitions in the past month, Les Distributions Carl Beaulac and Paul’s Hauling.

OMERS Private Equity has over $80 billion under management as part of the Ontario Municipal Employees Retirement System. On Friday, it announced that it will sell its stake in the Detroit River Rail Tunnel for $312 million to Canadian Pacific.

Click for more FreightWaves articles by Nate Tabak

Marijuana, bongs seized from trucks at US-Canada border

2 Canadian trucking companies forced into receivership

Ransomware hackers claim attack on Texas customs broker

Nate Tabak, Border and North America Correspondent

Nate Tabak is a Toronto-based journalist who covers cross-border trucking, logistics and trade for FreightWaves. Before moving to Canada, he spent seven years reporting stories in the Balkans and Eastern Europe as a reporter, producer and editor based in Kosovo. He previously worked at newspapers in the San Francisco Bay Area, including the San Jose Mercury News. He graduated from UC Berkeley, where he studied the history of American policing. Contact Nate at ntabak@freightwaves.com.

One Comment