KAG Acquires Carbon Express

WHARTON, N.J., Oct. 7, 2022 /PRNewswire/ -- Carbon Express Inc. ("Carbon Express") announced that it has completed the sale of 100% of the company to The Kenan Advantage Group, Inc., ("KAG").  Carbon Express is a Wharton, New Jersey- based company that transports liquid bulk products throughout North America, including chemicals, transformer oil, motor oil, lubricants and water treatment chemicals.

"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 part of the transaction, the entire Carbon Express team will join KAG within its Specialty Products division, including approximately 65 professional drivers/independent contractors. Carbon Express' Executive Chairman and founder Steve Rush will remain with the company throughout the transition and President, Sean McAllister, will continue to manage the daily operations. McAllister will also look to capitalize on growth opportunities with the additional assets and resources KAG can provide.

Bengur Bryan & Co., Inc. acted as the exclusive financial advisor 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.

Carbon Express, headquartered in Wharton, NJ, transports liquid bulk products across the United States and into Canada (www.carbonexpress.com). Established in 1983, the company is a leader in the transport of lubricant base oils and other petroleum products.

The Kenan Advantage Group, Inc. (KAG), North America's is the largest tank truck transporter and logistics provider (www.thekag.com). The company operates through its six operating groups consisting of KAG Energy, KAG Specialty Products, KAG Food Products, KAG Merchant Gas, KAG Canada and KAG Logistics. 

SOURCE Carbon Express