Business, Freight News, Logistics

Kenco Acquires The Shippers Group

[ February 2, 2024   //   ]

North American third-party logistics provider Kenco Group has acquired The Shippers Group, a Dallas-based third-party warehousing company.

Chattanooga, Tennessee-based Kenco said the deal provides increased capacity, broader geographic reach, and an expanded suite of services. Terms of the acquisition are not being disclosed.

The Shippers Group, led by majority owner and CEO Graham Swank, was founded in 1901 as a regional warehousing company, and has evolved nationally to include warehousing, co-packaging, fulfillment and transportation management space.

Denis Reilly, CEO of Kenco, said he has long admired Dallas-based The Shipping Group’s management team “Kenco and The Shippers Group have highly complementary capabilities and share a culture of excellence,” Reilly said. “Together, we bolster the combined suite of capabilities with increased scale and reach in key growth markets, enabling us to capitalize on market momentum, while continuing to deliver exceptional service to our customers.”

Kenco said the acquisition bolsters its multi-client capabilities and North American presence through the addition of 3.8 million square feet of space across eight sites in Florida, Georgia and Texas.

Rob Doyle, president at The Shippers Group, said “Kenco has built an exceptional platform from which to scale, and I am confident that our customers will welcome access to Kenco’s proven operating systems. Our alignment with Kenco’s culture, values, and commitment to innovation, coupled with Kenco’s infrastructure, positions us well to achieve new levels of performance and execute upon our growth opportunities.”

Scott Mayfield, Kenco’s chief administration officer, said the two companies “have had a long-standing relationship” among owners and key executives, and the partnership combines strengths “to deliver even greater value to our customers and further excel in the dynamic logistics landscape.”

Kenco Kominsky CFO

Kenco has appointed Thomas Kominsky as chief financial officer, and has joined the senior leadership team.

Kominsky, with 20 years of experience, served as CFO at private equity-backed Foundation Partners Group, where he built capabilities to organically scale the business, oversaw more than 50 merger and acquisition transactions and integrations, and led capital raising efforts of more than US$2 billion.

He developed transportation and logistics knowledge as a financial executive board member at Student Transportation America, orchestrating mergers and acquisitions, the privatization of the company and numerous capital raising activities. He’s also held progressive leadership roles at financial institutions including Bank of America and Bank of Montreal, where he oversaw investment banking for the transportation and logistics sector.

Reilly, Kenco CEO, underscores the significance of balance between internal development and acquisition as its growth strategy. With a deep understanding of our industry and a proven strategic finance track record, (Kominsky) is poised to help us navigate our path forward, propelling Kenco to new heights.”

The Shipping Group’s Austell, Georgia, warehouse.

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