WWL acquires Keen Transport
11 December 2017
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.