Transportation Buyout Acquisitions in 2021
Acquisition Volume in Transportation Buyout in 2021 by Year
Last 5 years
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December 31, 2021
- Buyer
- Argo Infrastructure Partners
- Target
- LAZ Parking
- Seller
- Infinedi Partners, LP, Jay Hegenbart (personal ownership stake)
- Industry
- Transportation
- Location
- Connecticut, United States
- Type
- Buyout
Argo Infrastructure Partners made a long-term investment in LAZ Parking, enabling Infinedi Partners to fully exit its $115 million investment in the company. LAZ Parking, headquartered in Hartford, Connecticut, is a large U.S. parking operator and parking-technology provider operating thousands of locations across dozens of states.
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December 24, 2021
- Buyer
- Kamps, Inc.
- Target
- Gorgo Group
- Seller
- Bryan Kruysman Jr., Nick Biagi
- Industry
- Transportation
- Location
- New Jersey, United States
- Type
- Buyout
Kamps, Inc. has acquired Gorgo Group, a Vineland, New Jersey-based provider of pallet, packaging and logistics solutions, expanding Kamps’ asset-based footprint in the North‑East. Gorgo operates three locations (two in Southern New Jersey and one in Harrisburg, PA), employs over 200 people, and will remain staffed with existing employees and owners post‑transaction.
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December 22, 2021
- Buyer
- Bluejay Capital Partners, Southfield Mezzanine
- Target
- Pacific West, LLC
- Industry
- Transportation
- Location
- Utah, United States
- Type
- Buyout
Bluejay Capital Partners has completed the acquisition of Pacific West, LLC, a Salt Lake City–based niche rail and industrial services firm. The transaction was financed with unitranche debt and an equity co-investment from Southfield Mezzanine; terms were not disclosed and Pacific West COO Dustin Hall retains a meaningful ownership stake. Bluejay intends to expand Pacific West's service offerings and geographic reach across the western United States.
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December 21, 2021
- Buyer
- Mister Car Wash, Inc.
- Target
- Clean Streak Ventures LLC
- Seller
- MKH Capital Partners
- Industry
- Transportation
- Location
- Florida, United States
- Type
- Buyout
Mister Car Wash, Inc. agreed to acquire Clean Streak Ventures LLC, an express car wash platform backed by MKH Capital Partners, for approximately $390 million. The deal includes 23 operating locations, 10 development locations, and the underlying real estate across 33 locations in Florida, expanding Mister’s footprint to 65 locations in the state.
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December 17, 2021
- Buyer
- KCM Capital Partners LLC, Lightspring Capital Partners, Midwest Mezzanine Funds
- Target
- ICAT Logistics, Inc.
- Industry
- Transportation
- Location
- Maryland, United States
- Type
- Buyout
Chicago-based private investment firm KCM Capital Partners led the acquisition of Elkridge, Maryland-headquartered ICAT Logistics, with equity and subordinated debt support from Lightspring Capital Partners and Midwest Mezzanine Funds and senior debt provided by Live Oak Bank. ICAT's founder and management remain invested and will continue to run the business; the deal positions ICAT for accelerated growth through expansion of its agency network and strategic acquisitions.
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December 15, 2021
- Buyer
- AEA Investors
- Target
- Redwood Logistics
- Seller
- CI Capital Partners
- Industry
- Transportation
- Location
- Illinois, United States
- Type
- Buyout
AEA Investors has acquired Redwood Logistics from CI Capital Partners. Redwood, a Chicago-headquartered third-party logistics provider with a proprietary Logistics Platform as a Service (LPaaS) and more than 800 employees, will partner with AEA to fund additional add-on acquisitions and accelerate organic growth; financial terms were not disclosed.
-
- Buyer
- Canadian Pacific Railway Limited
- Target
- Kansas City Southern
- Industry
- Transportation
- Location
- Missouri, United States
- Type
- Buyout
Canadian Pacific Railway Limited (CP) agreed to acquire Kansas City Southern (KCS) in a stock-and-cash transaction valued at about USD $29–$31 billion, including KCS debt. The companies placed KCS shares into a voting trust after closing while awaiting Surface Transportation Board (STB) approval, which is expected to determine final control and full integration.
-
- Buyer
- Altimeter Growth Corp (AGC), Altimeter Capital Management (funds managed by Altimeter), BlackRock, Counterpoint Global (Morgan Stanley Investment Management), T. Rowe Price Associates, Inc., Fidelity International / Fidelity Management and Research LLC, Janus Henderson Investors, Mubadala, Nuveen, Permodalan Nasional Berhad (PNB), Temasek, K3 Ventures, Djarum (family group), Sariaatmadja family (family group), Sinar Mas (family group)
- Target
- Grab Holdings Limited
- Industry
- Transportation
- Location
- Singapore
- Type
- Buyout
Grab Holdings Limited completed a business combination with Altimeter Growth Corp (AGC) and will begin trading on the Nasdaq following the transaction. The deal raised gross proceeds of approximately US$4.5 billion, including a US$4.0 billion PIPE led by funds managed by Altimeter Capital, to fund expansion of Grab's superapp ecosystem across ride-hailing, deliveries and digital financial services.
-
November 29, 2021
- Buyer
- Werner Enterprises, Inc.
- Target
- NEHDS Logistics, LLC
- Industry
- Transportation
- Location
- Connecticut, United States
- Type
- Buyout
Werner Enterprises acquired NEHDS Logistics, LLC, a Monroe, Connecticut-based final mile carrier, for $64 million (including a $4 million earnout). The acquisition expands Werner's final mile and big-and-bulky delivery capabilities across the Northeast and Midwest, integrating NEHDS's fleet, facilities and management into Werner's nationwide network.
-
November 11, 2021
- Buyer
- GrubMarket
- Target
- Oakport Transportation
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
GrubMarket has completed the acquisition of Oakland, California-based Oakport Transportation, a trucking and logistics provider offering refrigerated storage, cross-docking, and LTL/load delivery across the West Coast and select U.S. routes. The deal brings Oakport's facilities and networks into GrubMarket's eCommerce and WholesaleWare SaaS ecosystem to strengthen logistics capabilities and mitigate pandemic-driven supply chain disruptions.
-
November 10, 2021
- Buyer
- Storyteller Overland
- Target
- GoCamp
- Industry
- Transportation
- Location
- Oregon, United States
- Type
- Buyout
Storyteller Overland, a Birmingham, Alabama-based Class B RV manufacturer, has acquired GoCamp, a Portland-based peer-to-peer camper van rental service. The acquisition will enable GoCamp to expand nationally and give Storyteller a factory-endorsed rental channel for its MODE vans while preserving GoCamp's personalized rental model and leadership.
-
November 4, 2021
- Buyer
- Crystal Flash, Inc.
- Target
- J-M Transports, Inc.
- Seller
- Barry and Joan Jacobson (Jacobson family)
- Industry
- Transportation
- Location
- Illinois, United States
- Type
- Buyout
Grand Rapids-based energy distributor Crystal Flash, Inc. acquired J-M Transports, Inc., a family-owned fuels and propane transport provider headquartered in Newark, Illinois. The deal — Crystal Flash’s first acquisition outside Michigan — establishes a new Midwest Transportation Office and brings J-M’s drivers, dispatchers and management into Crystal Flash’s employee-owned organization.
-
October 28, 2021
- Buyer
- Island Global Yachting (IGY)
- Target
- Fairport Yacht Support
- Industry
- Transportation
- Location
- United States
- Type
- Buyout
Island Global Yachting (IGY) has acquired a controlling interest in Fairport Yacht Support, a yacht management company founded by Graeme Lord in 2011. The combination expands IGY's suite of owner services and launches IGY TRIDENT, a membership program that integrates yacht management, dockage, fuel, crew services and other premium offerings for superyacht owners.
-
October 22, 2021
- Buyer
- IAA, Inc., IAA International Holdings Limited
- Target
- SYNETIQ Ltd.
- Industry
- Transportation
- Location
- United Kingdom
- Type
- Buyout
IAA, Inc. signed an agreement to acquire SYNETIQ Ltd., an integrated salvage auction and vehicle dismantling business in the United Kingdom, for £225 million. The deal was approved by the UK Competition and Markets Authority, and IAA acquired the stock on October 26, 2021.
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October 21, 2021
- Buyer
- FlixMobility, Neptune Holding Inc.
- Target
- Greyhound Lines, Inc.
- Seller
- FirstGroup plc
- Industry
- Transportation
- Location
- Texas, United States
- Type
- Buyout
FlixMobility has acquired Greyhound Lines, Inc. from FirstGroup plc via Neptune Holding Inc., a corporation wholly owned by FlixMobility, for an enterprise value of approximately $46 million plus $32 million of unconditional deferred consideration. The deal combines FlixBus' global technology and shared-mobility expertise with Greyhound's nationwide U.S. intercity bus network to expand FlixMobility's footprint and service offering across the United States.
-
October 20, 2021
- Buyer
- Hub Group, Inc.
- Target
- Choptank Transport, Inc.
- Industry
- Transportation
- Location
- Maryland, United States
- Type
- Buyout
Hub Group (Nasdaq: HUBG) acquired Choptank Transport, a non-asset refrigerated third-party logistics provider based in Preston, Maryland, for $130 million in cash. The deal expands Hub Group's refrigerated and brokerage capabilities, adds Choptank's technology platform and ~400 employees, and advances Hub's cold-chain strategy to better serve customers across food and retail supply chains.
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October 18, 2021
- Buyer
- Alinda Capital Partners, Existing and new BTR management investors
- Target
- Big Truck Rental (BTR)
- Seller
- Trivest Partners LP, BTR founders / company co-owners
- Industry
- Transportation
- Location
- Florida, United States
- Type
- Buyout
Alinda Capital Partners acquired Big Truck Rental (BTR), a Tampa-based provider of rental refuse trucks, from the company's founders and Trivest Partners, with participation from existing and new management investors. BTR, founded in 2002, operates a large fleet (approximately 600 trucks) serving over 350 public and private waste service customers across the United States and Canada; William Blair served as financial advisor to the sellers.
-
October 12, 2021
- Buyer
- Armstrong Relocation & Companies
- Target
- Amazing Moves Moving & Storage
- Seller
- Marshall Aikman, Padraic (co-owner)
- Industry
- Transportation
- Location
- Colorado, United States
- Type
- Buyout
Armstrong Relocation & Companies has acquired Denver-based Amazing Moves Moving & Storage. Amazing Moves will continue to operate under its own brand and partner with Armstrong's Denver operation as Armstrong expands its national footprint.
-
October 5, 2021
- Buyer
- The Cohesive Companies, Bentley Systems, Incorporated
- Target
- OXplus
- Industry
- Transportation
- Location
- North Brabant, Netherlands
- Type
- Buyout
The Cohesive Companies, the digital integrator business unit of Bentley Systems, has acquired OXplus, a rail asset management specialist headquartered in Veghel, Netherlands. The deal expands The Cohesive Companies’ enterprise asset management and rail capabilities across Europe and strengthens its transportation infrastructure offerings and digital twin/EAM services.
-
September 28, 2021
- Buyer
- Brightstar Capital Partners
- Target
- XLerate Group
- Seller
- Huron Capital
- Industry
- Transportation
- Location
- Indiana, United States
- Type
- Buyout
Brightstar Capital Partners acquired a majority stake in XLerate Group from Huron Capital, with XLerate's senior management and Huron Capital retaining minority equity. XLerate, based in Carmel, Indiana, operates fixed-site, mobile and digital used-vehicle auctions across a multi-state footprint and will pursue further growth and technology investment under Brightstar's ownership.
-
September 28, 2021
- Buyer
- r2p Group
- Target
- T.G. Baker Americas Inc.
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
r2p Group, a Flensburg-based provider of passenger information and transport technology, has acquired T.G. Baker Americas Inc. (TGBA), a Vaughan, Ontario–based specialist in transit passenger information systems. The acquisition gives r2p a direct foothold in North America, strengthens local sourcing capabilities (e.g., Buy America/Canadian Content), and will deepen TGBA’s role in NetSpire product development and regional customer support.
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September 15, 2021
- Buyer
- Cazoo
- Target
- SMH Fleet Solutions
- Seller
- LDC
- Industry
- Transportation
- Location
- Worcestershire, United Kingdom
- Type
- Buyout
Online car retailer Cazoo has acquired SMH Fleet Solutions from private equity investor LDC in a deal valuing SMH at approximately £70 million. The acquisition expands Cazoo's vehicle reconditioning and storage capacity in the UK and adds SMH's vehicle preparation, logistics teams and digital wholesale platform to Cazoo's operations.
-
September 14, 2021
- Buyer
- FleetPride, Inc.
- Target
- Truck Service Company, Inc.
- Seller
- Truck Service Company, Inc.
- Industry
- Transportation
- Location
- Tennessee, United States
- Type
- Buyout
FleetPride, Inc. has acquired the assets of Truck Service Company, Inc., a Chattanooga-based heavy-duty truck repair and service center. The acquisition adds a service location that will complement FleetPride's nearby parts branch and expand its parts-and-service offering for fleets and drivers in southern Tennessee and northern Georgia.
-
September 9, 2021
- Buyer
- Canada Cartage
- Target
- Rapid Delivery
- Seller
- Rob Ward (owner of Rapid Delivery)
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
Canada Cartage has acquired Rapid Delivery, a London, Ontario-based carrier with terminals in London and Windsor that provides truckload, expedited and dedicated transportation into Ontario and the U.S. Great Lakes states. Canada Cartage has retained virtually all former Rapid staff and drivers; Rapid owner Rob Ward is retiring but will remain in a consultative role to support the transition.
-
September 9, 2021
- Buyer
- XLerate Group
- Target
- Greater Shreveport-Bossier Auto Auction (GSBAA)
- Seller
- Steve Chiasson, Keith Hightower
- Industry
- Transportation
- Location
- Louisiana, United States
- Type
- Buyout
The XLerate Group has acquired Greater Shreveport-Bossier Auto Auction (GSBAA), adding the Shreveport, Louisiana-based dealer auction to its portfolio as part of its ongoing roll-up strategy. GSBAA will continue to be operated locally by Matt Chiasson as general manager while XLerate integrates the facility into its network to expand footprint and service offerings across the region.
-
- Buyer
- Cambridge Capital
- Target
- Everest Transportation Systems
- Industry
- Transportation
- Location
- Illinois, United States
- Type
- Buyout
Cambridge Capital has made a majority investment in Everest Transportation Systems, a fast-growing freight brokerage headquartered in Evanston, Illinois. Everest's founders remain in leadership and retain significant ownership while Cambridge Capital partners to scale the business (including board seats for Benjamin Gordon and Matt Smalley), accelerate hiring and pursue tuck-in acquisitions; terms were not disclosed.
-
September 7, 2021
- Buyer
- Mill Point Capital LLC
- Target
- E&M Logistics, Inc.
- Industry
- Transportation
- Location
- New York, United States
- Type
- Buyout
E&M Logistics, a direct store delivery (DSD) distributor of ice cream, frozen and fresh foods, and beverages, announced it has partnered with Mill Point Capital. The middle-market private equity firm will take ownership as Jim Schubauer joins as Executive Chairman and CEO upon transaction closing, supporting growth initiatives alongside founder Martin Kelly.
-
September 1, 2021
- Buyer
- Quarterhill Inc.
- Target
- Electronic Transaction Consultants, LLC
- Industry
- Transportation
- Location
- Texas, United States
- Type
- Buyout
Quarterhill Inc. completed the acquisition of 100% of Electronic Transaction Consultants, LLC (ETC), a Richardson, Texas-based intelligent transportation systems (ITS) and tolling provider, for C$150.0 million funded with C$75.0 million cash and C$75.0 million of syndicated debt. The deal gives Quarterhill a leading position in the U.S. tolling market, and Quarterhill expects ETC to generate C$95–120 million of annualized revenue (post-synergies) and C$12.5–15.0 million of Adjusted EBITDA within 12–18 months.
-
August 20, 2021
- Buyer
- Carver Aero
- Target
- LumanAir Aviation Services, ATS Illinois
- Seller
- Bob Luman, Mike Luman, Mark McKinney
- Industry
- Transportation
- Location
- Illinois, United States
- Type
- Buyout
Iowa-based Carver Aero has acquired two Aurora, Illinois aviation businesses: LumanAir Aviation Services and ATS Illinois. The acquisitions bring aircraft maintenance, engine/turbine servicing, flight training and FBO/charter capabilities under Carver Aero as it expands operations at Aurora Municipal Airport.
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- Buyer
- Odyssey Investment Partners
- Target
- Painters Supply & Equipment Co.
- Industry
- Transportation
- Location
- Michigan, United States
- Type
- Buyout
Odyssey Investment Partners has acquired Painters Supply & Equipment Co. (PSE), a specialty distributor of paint, coatings and related consumables serving automotive refinish, commercial and industrial markets. The deal will support PSE's continued geographic and category expansion and consolidation strategy while the existing leadership team remains in place; financial terms were not disclosed.
-
August 17, 2021
- Buyer
- Creative Bus Sales
- Target
- Alliance Bus Group
- Industry
- Transportation
- Location
- Georgia, United States
- Type
- Buyout
Creative Bus Sales, the nation's largest bus dealership based in Chino, California, acquired Alliance Bus Group, a multi-state bus dealership headquartered in Atlanta, Georgia. The acquisition expands Creative's sales and service network to 21 locations and strengthens its support footprint for transit, school, and retail bus customers across the U.S.
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August 13, 2021
- Buyer
- SEACOR Holdings Inc.
- Target
- U.S. Shipping Corp
- Seller
- Private shareholders of U.S. Shipping Corp
- Industry
- Transportation
- Location
- United States
- Type
- Buyout
SEACOR Holdings Inc. completed the acquisition of U.S. Shipping Corp (USSC) on August 13, 2021. The deal expands SEACOR's SEABULK operations and makes SEABULK one of the largest Jones Act tanker operators by adding USSC's six U.S.-flagged vessels and supporting coastwise chemical and petroleum transportation capabilities.
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- Buyer
- Searchlight Capital Partners
- Target
- Flowbird
- Seller
- Astorg, Mellby Gård
- Industry
- Transportation
- Location
- France
- Type
- Buyout
Funds advised by Searchlight Capital Partners have entered into exclusive negotiations to acquire Flowbird from sellers Astorg and Mellby Gård. The deal would make Searchlight the new majority shareholder as it supports Flowbird's shift toward a tech-enabled software and payments platform and pursues further M&A to accelerate growth.
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- Buyer
- A.P. Moller - Maersk
- Target
- Visible Supply Chain Management, B2C Europe Holding B.V.
- Industry
- Transportation
- Location
- Utah, United States
- Type
- Buyout
A.P. Moller - Maersk acquired Visible Supply Chain Management (closed Aug 2, 2021) and announced the proposed acquisition of B2C Europe Holding B.V. to expand its e‑commerce logistics capabilities. The deals add B2C fulfilment and parcel delivery expertise in North America and Europe, strengthening Maersk's end‑to‑end e‑commerce logistics offering.
-
- Buyer
- GB & Partners Investment Management, Asura Technologies Ltd.
- Target
- Parking Revenue Recovery Services, Inc. (PRRS)
- Industry
- Transportation
- Location
- Colorado, United States
- Type
- Buyout
GB & Partners Investment Management, together with portfolio company Asura Technologies, acquired a majority stake in Parking Revenue Recovery Services (PRRS). The investment pairs PRRS's 20 years of parking enforcement and collections expertise with Asura's AI-based video analytics and license-plate-recognition technology to accelerate ARC/ARC360 installations and expand PRRS's North American footprint.
-
August 2, 2021
- Buyer
- Carlyle Aviation Partners (affiliate of The Carlyle Group), Carlyle Aviation Elevate Merger Subsidiary Ltd.
- Target
- Fly Leasing Limited
- Industry
- Transportation
- Location
- Dublin, Ireland
- Type
- Buyout
An affiliate of Carlyle Aviation Partners completed the acquisition of Fly Leasing Limited for $17.05 per share, taking the company private. The transaction values Fly Leasing at approximately $520 million (with an enterprise value of roughly $2.36 billion) and adds 84 aircraft (on lease to 37 airlines) to Carlyle Aviation's managed portfolio.
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- Buyer
- H.I.G. Infrastructure (affiliate of H.I.G. Capital)
- Target
- North America Central School Bus
- Seller
- Goldner Hawn LP
- Industry
- Transportation
- Location
- Illinois, United States
- Type
- Buyout
An affiliate of H.I.G. Capital's infrastructure arm has acquired North America Central School Bus (NAC), a Joliet, Illinois–based student transportation provider. The deal was an exit for prior sponsor Goldner Hawn LP; H.I.G. said it will support geographic expansion and a transition to next-generation (including electric) bus technology while management, led by CEO Steve Hemmerlein, remains in place.
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July 28, 2021
- Buyer
- VisionTrack Inc
- Target
- SkyLab Solutions
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
VisionTrack Inc has acquired California-based fleet telematics provider SkyLab Solutions to establish and accelerate its North American expansion. The deal brings the SkyLab team into the newly formed VisionTrack Inc to support roll-out of VisionTrack's video telematics products and Azure-hosted IoT platform in the US.
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- Buyer
- Lithia & Driveway (LAD)
- Target
- Subaru of Mobile, Michael's Subaru of Bellevue
- Industry
- Transportation
- Location
- United States
- Type
- Buyout
Lithia & Driveway (LAD) has acquired Subaru of Mobile in Mobile, Alabama and Michael's Subaru in Bellevue, Washington. The acquisitions expand LAD's footprint in the Southeast and Northwest regions, add approximately $155 million of expected annualized revenue, and were financed using existing on-balance sheet capacity.
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- Buyer
- Mahansaria Tyres Private Limited (MTPL)
- Target
- Tyres International
- Industry
- Transportation
- Location
- Ohio, United States
- Type
- Buyout
Mahansaria Tyres Private Limited (MTPL), an India-based off-highway tire manufacturer (owner of the Ascenso brand), acquired a majority stake in Tyres International, a Stow, Ohio-based tire importer and wholesale distributor. The deal establishes MTPL’s distribution foothold in North America so Tyres International will distribute Ascenso products in the U.S. while continuing to distribute Westlake truck tires and Sunrise truck wheels.
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- Buyer
- Updater
- Target
- Dolly
- Industry
- Transportation
- Location
- Washington, United States
- Type
- Buyout
Updater, the relocation technology platform, has acquired Dolly, an on-demand local moving and delivery service, to integrate Dolly's last-mile capabilities into Updater's marketplace and expand offerings for consumers and retail partners. Dolly will remain based in Seattle and operate as a subsidiary of Updater, enabling integrated routing of jobs between Dolly Helpers and Updater's MoveHQ full-service network.
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- Buyer
- Exchange Income Corporation
- Target
- Carson Air Ltd.
- Seller
- Wynnchurch Capital
- Industry
- Transportation
- Location
- British Columbia, Canada
- Type
- Buyout
Exchange Income Corporation (TSX: EIF) has acquired Carson Air Ltd., a Kelowna, British Columbia–based provider of fixed-wing air ambulance, air cargo and flight training services. The transaction involved Wynnchurch Capital selling its investment in Carson Air, handing ownership to Exchange Income as part of the buyer's expansion of its aviation services portfolio.
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- Buyer
- Platinum Equity
- Target
- Ingram Micro Inc.
- Seller
- HNA Technology Co., Ltd. (part of HNA Group)
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
Platinum Equity completed the acquisition of Ingram Micro Inc. from HNA Technology Co., Ltd. The buyout, announced July 2021, values the world’s largest technology distributor at $7.2 billion enterprise value and positions Platinum to accelerate Ingram Micro’s cloud, logistics and solutions strategies while providing financial and operating support for growth initiatives.
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- Buyer
- Canadian National Railway Company (CN)
- Target
- Kansas City Southern (KCS)
- Industry
- Transportation
- Location
- Missouri, United States
- Type
- Buyout
CN and Kansas City Southern (KCS) submitted arguments to the Surface Transportation Board (STB) supporting approval of a “plain vanilla” voting trust, which is described as an essential step toward the STB’s full review of their proposed end-to-end combination. The companies emphasize that the voting trust prevents premature control of KCS while preserving KCS independence and financial health during review, alongside pro-competitive commitments such as divestiture of a specific 70-mile overlap and an “open gateways” framework.
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July 6, 2021
- Buyer
- TravelPerk, The Baupost Group
- Target
- Click Travel
- Industry
- Transportation
- Location
- England, United Kingdom
- Type
- Buyout
TravelPerk has acquired UK corporate travel management company Click Travel, including its 150 employees, technology and 2,000 business customers. The transaction was funded with capital from The Baupost Group and strengthens TravelPerk's position as the leading travel management platform for SMBs in the UK and globally.
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- Buyer
- Indigo Glamour Co Ltd, MBK Partners
- Target
- CAR Inc.
- Industry
- Transportation
- Location
- Beijing, China
- Type
- Buyout
MBK Partners, through its subsidiary Indigo Glamour Co Ltd, completed a compulsory acquisition of all remaining shares of CAR Inc., taking the company private in a transaction valued at approximately US$1.1 billion. MBK will hold 100% of CAR Inc. and intends to leverage its capital and industry experience to consolidate the car rental market in China and support CAR Inc.'s growth and transformation.
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July 5, 2021
- Buyer
- Knight-Swift Transportation Holdings Inc.
- Target
- AAA Cooper Transportation
- Industry
- Transportation
- Location
- Alabama, United States
- Type
- Buyout
Knight-Swift Transportation Holdings Inc. acquired 100% of Dothan, Alabama-based AAA Cooper Transportation, a leading less-than-truckload (LTL) carrier. The $1.35 billion transaction (including assumed debt) is intended to provide Knight-Swift an LTL growth platform and is expected to be immediately accretive to adjusted EPS while preserving AAA Cooper's independent operations and leadership.
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- Buyer
- Danaos Corporation
- Target
- Gemini Shipholdings Corporation
- Industry
- Transportation
- Type
- Buyout
Danaos Corporation exercised its option to acquire the remaining 51% equity in Gemini Shipholdings Corporation for $86.7 million in cash (net cash outflow approximately $72.3 million). Gemini owns five containerships (32,531 TEU) employed on time charters; the acquisition consolidates Gemini into Danaos' financials and is expected to increase Danaos' contracted revenue by about $160 million and contracted EBITDA by approximately $117 million.
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EVgo Completes Business Combination with Climate Change Crisis Real Impact I Acquisition CorporationJuly 1, 2021
- Buyer
- EVgo Services, LLC
- Target
- Climate Change Crisis Real Impact I Acquisition Corporation
- Industry
- Transportation
- Location
- United States
- Type
- Buyout
EVgo Services, LLC completed its previously announced business combination with Climate Change Crisis Real Impact I Acquisition Corporation (CLII), resulting in EVgo becoming a public company. The transaction included approximately $230 million from CLII’s trust account and about $400 million from a PIPE anchored by institutional investors including PIMCO and asset managers such as BlackRock, Wellington, Neuberger Berman, and Van Eck.
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June 30, 2021
- Buyer
- Stable Road Acquisition Corp (SRAC)
- Target
- Momentus Inc. (Momentus)
- Seller
- Momentus co-founders and their related entities
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
Stable Road Acquisition Corp (SRAC) and Momentus amended their merger agreement to reflect an 18-month delay in Momentus’ planned orbital transfer vehicle launch schedule. The revision also changes the deal valuation and increases the expected ownership of the combined company for SRAC stockholders and PIPE investors to about 45%, while Momentus co-founders’ holdings were fully divested and repurchased before the amended terms take effect.
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