Platinum Equity acquires Keen Transport
Los Angeles-based private equity firm Platinum Equity has acquired Carlisle, Pennsylvania-headquartered Keen Transport, a national provider of heavy-haul logistics and transportation services for the construction, mining and agriculture equipment markets. Keen Transport has been owned by the Keen family for 43 years.
M&T Investment Banking Group, a division of M&T Bank, represented Keen on the deal. “We thought Platinum Equity would be a great fit for Keen Transport due to Platinum’s experience and investments in the transportation and logistics sector,” said Stuart Smith, managing director in M&T Bank’s Investment Banking Group.
“We do a great deal of work with family owned businesses that attract private equity investors. Our knowledge of the Keens’ strategy as well as Platinum Equity’s interests made this an attractive deal for both sides” concluded Smith.