KAG acquires XBL, strengthening Gulf and Midwest presence

The Kenan Advantage Group (KAG) has acquired Texas-based XBL Holdings, along with its subsidiaries Xcel Bulk Logistics and XBL Industrial Materials.

As part of the transaction, 186 tractors, 365 trailers, 10 mobile storage silos, 11 terminal and satellite locations, and three maintenance facilities were added to its fleet. Additionally, 162 professional drivers and 53 operational members will be added to the workforce.

XBL is a dry bulk transport company, providing transportation, storage, and logistics services to industrial gas construction companies. The company operates the largest dry bulk fleet in the Carolinas and has significant capacity throughout the Gulf Coast and the Midwest.

Grant Mitchell, President and Chief Operating Officer at KAG, said the purchase uniquely positions KAG to materially expand its dry bulk transportation platform.

“With its [XBL’s] impressive market position and a diverse group of tenured, blue-chip customers, we’ve solidified our entrance into a very niche marketplace.”

News of the acquisition comes hot on the heels of KAG’s purchase of Michigan-based PRM Trucking. The acquisition expands KAG’s dry bulk transportation services.

Read more: KAG acquires PRM Trucking, expands Midwest dry bulk services

Richard Hoyle, Co-founder and President of XBL, said he looks forward to joining the KAG team, sharing its expertise as a dry bulk services provider.

“It was important to our leadership team to find a partner who operates with the same principles and ambitious standards that we hold ourselves to – building trust through execution and creating value and long-term stability for our employees and customers.”