WHARTON, N.J., Oct. 7, 2022 /PRNewswire/ — Carbon Express Inc. (“Carbon Express”) introduced that it has accomplished the sale of 100% of the corporate to The Kenan Advantage Group, Inc., (“KAG”). Carbon Express is a Wharton, New Jersey– primarily based firm that transports liquid bulk merchandise all through North America, together with chemical substances, transformer oil, motor oil, lubricants and water therapy chemical substances.
“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.”
As a part of the transaction, the whole Carbon Express group will be part of KAG inside its Specialty Products division, together with roughly 65 skilled drivers/impartial contractors. Carbon Express’ Executive Chairman and founder Steve Rush will stay with the corporate all through the transition and President, Sean McAllister, will proceed to handle the each day operations. McAllister will even look to capitalize on progress alternatives with the extra property and assets KAG can present.
Bengur Bryan & Co., Inc. acted because the unique monetary advisor to Carbon Express.
Greenberg Dauber Epstein & Tucker, P.C. acted as authorized counsel to Carbon Express, and Buckingham, Doolittle & Burroughs, LLC acted as authorized counsel to KAG.
About Carbon Express
Carbon Express, headquartered in Wharton, NJ, transports liquid bulk merchandise throughout the United States and into Canada (www.carbonexpress.com). Established in 1983, the corporate is a frontrunner within the transport of lubricant base oils and different petroleum merchandise.
About The Kenan Advantage Group
The Kenan Advantage Group, Inc. (KAG), North America’s is the most important tank truck transporter and logistics supplier (www.thekag.com). The firm operates via its six working teams consisting of KAG Energy, KAG Specialty Products, KAG Food Products, KAG Merchant Gas, KAG Canada and KAG Logistics.
SOURCE Carbon Express