Harris Williams & Co. Advises RTL-Westcan Group of Companies on its Sale to Kenan Advantage Group
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of RTL-Westcan Group of Companies (RTL-Westcan), a provider of specialized bulk transportation and logistics services, to strategic buyer Kenan Advantage Group (KAG). Harris Williams & Co. acted as an advisor to RTL-Westcan, a portfolio company of TriWest Capital Partners (TriWest). The transaction closed on November 15, 2013 and was led by Frank Mountcastle, Jason Bass, Joe Conner, Jershon Jones and Jeff Kidd from Harris Williams & Co.’s Transportation & Logistics (T&L) Group.
“RTL-Westcan has built an impressive platform for bulk hauling in Western Canada. The geographic areas served by the company represent some of the fastest growing regions in North America,” said Frank Mountcastle, a managing director in Harris Williams & Co.’s T&L Group. “This partnership will enable RTL-Westcan to continue to execute its growth strategy while also providing KAG with a strategic platform to continue its expansion into new geographies and new markets in North America. This transaction is a great outcome for all parties involved.”
Founded in 1964, RTL-Westcan specializes in hauling liquid and dry bulk commodities, freight hauling and construction services. The company has expanded from a single product service offering to a highly diversified bulk hauling platform serving the energy, mining, agriculture and infrastructure end markets. RTL-Westcan is headquartered in Edmonton, Canada and operates out of 14 locations throughout Alberta, British Columbia, Saskatchewan and the Northwest Territories.
TriWest, founded in 1998 and based in Calgary, Alberta, is one of Canada’s leading private equity firms. TriWest has raised more than $775 million in committed capital through four funds and invested in 27 companies to date. These investments have involved the acquisition of market-leading companies through management buyouts, growth financings, corporate divestitures and other special situations.
KAG is North America’s largest tank truck transporter and logistics provider to the petroleum, specialty products and merchant gas industries. It operates nationwide through its four groups consisting of the Fuels Delivery Group, Specialty Products Group, Merchant Gas Group and the Logistics Group. KAG also provides specialized supply chain logistics services through KAG Logistics and KAG Ethanol Logistics.
Harris Williams & Co.’s T&L Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), surface transportation, airport and aviation services, transportation equipment and the automotive and heavy duty vehicle market. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group website.