Affiliates of Harkness Capital Partners have agreed to make an investment in Kane Is Able, Inc. to support KANE’s growth strategy of expanding its services and national presence.
According to KANE President and CEO Mike Gardner, the investment comes at a time when the company has great momentum and wants to accelerate that growth even further.
“Operationally, 2018 was an outstanding year. We doubled our network presence in Atlanta, Allentown, PA, and Southern California, opened new locations, booked record sales, and increased our transportation capabilities by 30%. To continue along this path takes resources and expertise. The Harkness investment will enable KANE to grow its services and market presence. Harkness Capital is the perfect fit to assist us in achieving our goals of exceptional logistics delivered by dependable and dedicated associates. Besides providing the capital we need to accelerate our growth, they bring decades of operating experience and proven investment success in the logistics industry.”
Dick Kane, former CEO and returning board member at Kane Is Able, added, “The Kane family is delighted to welcome Harkness Capital Partners as fellow owners of the business. Their investment allows us to preserve the family culture at Kane Is Able and expand our best-in-the-industry service levels. As we approach our 90 th year in business, we’re excited to have Harkness as our partner.”
Harkness Capital partner, Ted Dardani, said "Harkness Capital is honored and excited to team with the Kane family and the Kane Is Able team to support the next chapter of growth in this leading logistics company."
The transaction closed on March 13, 2019. Mike Gardner will continue as KANE's President and CEO and the company’s name will remain Kane Is Able.
The terms of the transaction were not announced. Republic Partners served as advisors to Kane Is Able on this transaction.