Merger & Acquisition Insights

Fraley & Schilling Acquires KBT Enterprises. Tenney Group Advises.

Posted on January 05, 2021 by admin

Rushville, IN., Dec 31, 2020 – Fraley & Schilling a truckload carrier servicing all parts of the United States, announced the acquisition of the assets of KBT Enterprises located in Fishers, IN.  Since 1995, KBT Enterprises Inc. has been providing quality pneumatic dry bulk trucking and transport services, hauling bulk materials such as lime kiln dust, dry bulk cement, and fly ash throughout Indiana and surrounding states.  The company currently operates 33 tractors and 42 trailers. The financial terms of the deal were not disclosed. Tenney Group, an industry specialized M&A firm, advised the seller.

The strategic acquisition of KBT Enterprises supports Fraley & Shilling’s efforts to deliver superior supply chain solutions across the Eastern United States. Any other acquisitions in the buyer’s history are not currently available for public knowledge. Founded in 1955, Fraley & Schilling offers a variety of transportation and logistics services designed to meet the growing complexity around supply chain needs. Their ultralight truckload services include flatbed, conestoga, dry van, and bulk tanker options. Andrew White, Chief Financial Officer of Fraley & Schilling, shared “The KBT Enterprises acquisition will allow us to augment and enhance our current dry bulk operations in Indiana and other regional midwestern locations. Additionally, it will also add valuable talent to the great team at Fraley & Schilling along with access to KBT’s long standing customer relationships.”

The addition of KBT will expand Fraley & Schilling’s existing fleet to almost 600 trucks. Both parties expect the KBT Enterprises brand to continue on. Former co-owners of KBT, Chuck Held and Sandy Howard, sited retirement as the reason for selling. Both will stay on for a period of time in a limited consulting role.

Chuck Held, shared, “This was the right time for us to make a change. I am very pleased about what this deal means for our team and for our customers. It’s a win for everyone.” Co-owner, Sandy Howard added, “I am very proud of what our team has accomplished together over the past 25 years and about the future of KBT being in the hands of the folks at Fraley & Schilling. They have a great organization.”

Spencer Tenney, President and CEO of Tenney Group, shared “Fraley & Schilling has been a successful, forward thinking company for decades. I think we can expect more established companies, like Fraley & Schilling, to begin integrating acquisitions into their broader growth strategies to combat the growing challenges in trucking.”

For more information on Fraley & Schilling, visit

Tenney Group is a merger and acquisition advisory firm that has been dedicated to the transportation and logistics industry since 1973. For more information, visit

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    Category: Press Release