Los Angeles, CA – Platinum Equity announced today that it has acquired Keen Transport Company, which includes Keen Transport, Inc. and Cressler Trucking, Inc. Keen Transport is a national provider of heavy-haul logistics and transportation services for the construction, mining, and agriculture equipment markets. Cressler Trucking is a general commodity carrier that provides packaged goods transportation, primarily in the Northeast United States.
Bill Keen will remain with the company in his position as CEO. Terms of the transaction were not disclosed.
"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 realizing its full potential."
Keen Transport specializes in the movement of large and oversize equipment. The company also provides value-added logistics, light assembly, painting, installation of aftermarket accessories, storage, and managed logistics services at 13 facilities near U.S. ports and co-located with customer production facilities.
"Partnering with Platinum Equity is very exciting for our organization, our customers, and all of our partners," said Mr. Keen. "Platinum understands our business and supports the integrity upon which this company has been built."
Keen Transport was founded by Harold Keen and has been owned by the Keen family for 43 years. Platinum expects to build on the Keen legacy by pursuing growth organically and through prospective add-on acquisitions.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 125 acquisitions.
About Keen Transport
Keen Transport, based in Carlisle, Penn., is a national provider of heavy-haul logistics and transportation services for the construction, mining and agriculture equipment markets, with facilities in Arkansas, California, Illinois, Georgia, North Carolina, Pennsylvania, Texas, and Washington. Keen provides diverse field services at mining and construction sites, complemented by machine assembly, teardown, and customization work at each facility. Keen is committed to maintaining a quality company-owned transportation fleet that allows for greater control over all aspects of the transport process. Keen's experience, specialized capabilities, and professionalism distinguish Keen as an industry leader.