Wallenius Wilhelmsen Logistics ASA in Norway has signed an agreement to acquire 100 per cent of the shares in Keen Transport, Inc. from Platinum Equity.
WWL paid US$ 64 million for the USA-based specialized transport company which operates 14 high & heavy equipment processing centres (EPCs). With its 450 employees Keen also offers facility services, equipment modification and load consolidation for original equipment manufacturers. Revenue in 2016 was $82 million.
Commenting on the acquisition, Craig Jasienski, WWL ASA president and CEO, “With Keen as part of our group we will become the clear market leader in the US H&H equipment processing space, positioning ourselves for the forecast growth in this segment.”
The company said that the acquisition is a strong fit strategically and operationally with significant synergies. The larger footprint will allow WWL to take advantage of an improving mining and construction sector in the USA, the company said.