Transportation Buyout Acquisitions in 2022
Acquisition Volume in Transportation Buyout in 2022 by Year
Last 5 years
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December 31, 2022
- Buyer
- The Staverton Group LLC
- Target
- CITTA Brokerage Company
- Seller
- Owners/shareholders of CITTA Brokerage Company (not disclosed), Woodbridge International (advisor)
- Industry
- Transportation
- Location
- Utah, United States
- Type
- Buyout
The Staverton Group LLC, an owner-operator vehicle founded by Scott Sorenson and headquartered in Salt Lake City, Utah, has acquired CITTA Brokerage Company, a customs brokerage and duty-drawback specialist based in Ogden, Utah. The transaction was announced by Woodbridge International, which represented the seller; financial terms and the selling shareholders were not disclosed.
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December 31, 2022
- Buyer
- Horizon Air Freight
- Target
- Transmarine Navigation Corporation
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
Horizon Air Freight announced the acquisition of Transmarine Navigation Corporation, completed in Q4 2022, to expand its port agency and in-port logistics capabilities across North and South America. The deal combines Horizon’s global warehousing and last-mile delivery network with Transmarine’s port call agency presence at 12 ports, enhancing services for ship owners, operators, and charters.
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December 28, 2022
- Buyer
- Bluestem Equity Ltd.
- Target
- United Vision Logistics
- Seller
- a group of large capital providers and credit managers
- Industry
- Transportation
- Location
- Louisiana, United States
- Type
- Buyout
Bluestem Equity Ltd. completed the acquisition of Lafayette, Louisiana-based United Vision Logistics (UVL), a land transportation and logistics provider offering heavy haul, long haul, and expedited services across the United States and Canada. UVL — which operates out of Lafayette and Houston and maintains a network of over 100 facilities and a large fleet of owner-operators and partnered carriers — will continue operating under its existing leadership as Bluestem partners to grow the business.
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December 21, 2022
- Buyer
- SMBC Aviation Capital
- Target
- Goshawk Management Ltd.
- Seller
- Goshawk shareholders (including Chow Tai Fook Enterprises and NWS Holdings)
- Industry
- Transportation
- Location
- Ireland
- Type
- Buyout
SMBC Aviation Capital completed the acquisition of Dublin-based aircraft lessor Goshawk Management Ltd., creating the second-largest global aircraft lessor by number of aircraft and the largest Japanese-owned lessor. The combined business operates a portfolio of over 700 owned and managed aircraft (with additional new-technology narrowbody orders) and is positioned to benefit from a sector recovery through enhanced scale and funding advantages.
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December 14, 2022
- Buyer
- Armstrong Relocation & Companies
- Target
- MacDonald Moving Services, Inc.
- Seller
- Bruce MacDonald
- Industry
- Transportation
- Location
- Massachusetts, United States
- Type
- Buyout
Armstrong Relocation & Companies has acquired MacDonald Moving Services, a Boston-based United Van Lines agency, to expand Armstrong's service capacity in the New England market. The acquisition follows owner Bruce MacDonald’s decision to retire and will rebrand the business as Armstrong Relocation Company, Massachusetts, LLC, with Mark McEwen named president for the region.
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December 14, 2022
- Buyer
- Alterna Equity Partners
- Target
- Bulk Express Transport, Soil Tech Distributors, M3 Transport, Inter City Disposal
- Industry
- Transportation
- Location
- Florida, United States
- Type
- Buyout
South Florida-based private equity firm Alterna Equity Partners completed a control acquisition of the Bulk Express family of companies — including Bulk Express Transport, Soil Tech Distributors, M3 Transport and Inter City Disposal. The Miami-headquartered business is a leading long-haul waste hauling and transfer-station services provider in Florida; AEP plans to partner with management to expand the company's market position and advance operational and environmental initiatives.
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December 7, 2022
- Buyer
- Lincolnshire Management, Inc.
- Target
- Whitewater Brands, LLC
- Seller
- Rock Gate Partners, Peninsula Capital Partners
- Industry
- Transportation
- Location
- Idaho, United States
- Type
- Buyout
Lincolnshire Management, a New York-based private equity firm, has acquired Whitewater Brands, an omnichannel marketer and supplier of consumables and light equipment to automotive collision shops, mechanical repair shops, and dealerships. The sellers were Rock Gate Partners and Peninsula Capital Partners; financial terms were not disclosed. Lincolnshire intends to grow the business organically and via M&A, leveraging Whitewater's multi-brand catalog, e-commerce channels, and distribution footprint.
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December 1, 2022
- Buyer
- The Stephens Group, LLC
- Target
- Princeton TMX, LLC
- Industry
- Transportation
- Location
- Indiana, United States
- Type
- Buyout
The Stephens Group, a private investment firm, has completed a strategic acquisition of Fort Wayne-based Princeton TMX to accelerate the growth and product development of its cloud-based transportation management system for industrial shippers. Princeton TMX will leverage The Stephens Group’s capital and operational support to expand capabilities and scale commercial efforts serving customers across agriculture, packaging, steel, lumber, aggregates, food & beverage and chemicals.
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November 18, 2022
- Buyer
- Helbiz, Inc.
- Target
- Wheels Labs, Inc.
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
Helbiz, Inc. (NASDAQ: HLBZ) has completed its previously announced merger with Wheels Labs, Inc., adding Wheels' micro‑mobility assets and leadership to expand Helbiz’s presence across 67 markets and potentially double annual revenue. Wheels CEO Marco McCottry will lead Helbiz’s North America mobility business as the combined company works to integrate apps, advance product development and accelerate the path to profitability.
-
November 18, 2022
- Buyer
- AD Ports Group
- Target
- Noatum
- Industry
- Transportation
- Location
- Spain
- Type
- Buyout
AD Ports Group acquired Noatum, a global integrated logistics platform operating across logistics, maritime services, and port terminals, in a deal valued at AED 2.5 billion for 100% ownership. Subject to regulatory approvals, the transaction is expected to close in H1 2023 and Noatum will lead AD Ports Group’s Logistics Cluster to expand the group’s international logistics and maritime footprint.
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November 7, 2022
- Buyer
- Forward Air Corporation
- Target
- Chickasaw Container Services
- Industry
- Transportation
- Location
- United States
- Type
- Buyout
Forward Air Corporation has entered into an agreement to acquire the assets of Chickasaw Container Services, a privately held intermodal drayage provider with terminals in Mobile, Alabama and Memphis, Tennessee. The cash-funded transaction is expected to close in November 2022 and will expand Forward's intermodal drayage footprint in the Mobile market while strengthening its presence in Memphis.
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October 27, 2022
- Buyer
- Southern Devall (combined company under CC Industries)
- Target
- Devall Towing, Southern Towing Company
- Industry
- Transportation
- Location
- Louisiana, United States
- Type
- Buyout
Devall Towing and Southern Towing Company announced plans to fully integrate operations and management in 2023, forming a combined company called Southern Devall. The integration will combine Devall’s coastal network with Southern’s upriver capabilities to provide integrated marine transportation solutions across U.S. inland and coastal waterways.
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October 21, 2022
- Buyer
- Port Jersey Logistics
- Target
- TruckItNow Transportation
- Industry
- Transportation
- Location
- Oregon, United States
- Type
- Buyout
Port Jersey Logistics, a family-owned full-service 3PL based in Cranbury, New Jersey, has acquired TruckItNow Transportation of Wilsonville, Oregon. The deal expands Port Jersey/Continental Logistics' nationwide footprint and adds temperature-controlled (reefer/frozen) transportation, LTL pool capability, and related coordination/administration staff.
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- Buyer
- Bain Capital, Abu Dhabi Investment Authority (ADIA) (via a wholly owned subsidiary), Merchants Fleet leadership team (management co-investors)
- Target
- Merchants Automotive Group (d/b/a Merchants Fleet / Merchants Auto)
- Seller
- Singer family (outgoing owners of Merchants / Merchants ownership)
- Industry
- Transportation
- Location
- New Hampshire, United States
- Type
- Buyout
Bain Capital and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), together with the Merchants Fleet leadership team, completed the acquisition of Merchants Automotive Group (d/b/a Merchants Fleet and Merchants Auto). The management team will remain in place as co-investors; the transaction provides capital to accelerate Merchants' growth, technology initiatives and fleet electrification efforts and was supported by a $3 billion financing program arranged by Ares and others.
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October 19, 2022
- Buyer
- Aramex PJSC
- Target
- MyUS (Access USA Shipping, LLC)
- Industry
- Transportation
- Location
- Florida, United States
- Type
- Buyout
Dubai-listed Aramex PJSC has completed an all-cash acquisition of Access USA Shipping, LLC (MyUS) for approximately $265 million. MyUS will be integrated into Aramex's courier business to strengthen cross-border e-commerce capabilities, increase shipment volumes and expand geographic coverage.
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October 12, 2022
- Buyer
- KAG Logistics, LLC (KAGL)
- Target
- Connectrans Logistics Inc.
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
KAG Logistics, LLC completed the acquisition of Toronto-based Connectrans Logistics Inc., expanding KAG's footprint into the Canadian logistics market and strengthening its cross-border freight capabilities. Connectrans provides cross-border transportation services (dry van, temperature control, flatbed, over-dimensional and intermodal) enabling KAG to offer enhanced capabilities to Canadian and U.S. customers.
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October 11, 2022
- Buyer
- GPS Insight
- Target
- Certified Tracking Solutions
- Seller
- HKW
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Buyout
GPS Insight, an Accel-KKR portfolio company, acquired Certified Tracking Solutions (Titan GPS) from middle‑market PE firm HKW to expand its fleet management and telematics capabilities and extend its reach into Canada. The deal adds ELD-certified solutions, specialty tracking, Bluetooth asset tracking, and field operations tools to GPS Insight's suite of SaaS fleet and field service management products.
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October 6, 2022
- Buyer
- Walmart
- Target
- Alert Innovation
- Industry
- Transportation
- Location
- Massachusetts, United States
- Type
- Buyout
Walmart has signed a definitive agreement to acquire Alert Innovation, the Boston-area developer of the Alphabot automated e-grocery fulfillment system. The acquisition brings Alert Innovation’s development, manufacturing and deployment capabilities in-house to accelerate Walmart's market fulfillment center automation and omnichannel grocery fulfillment.
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October 3, 2022
- Buyer
- Imperial Dade
- Target
- Boudreault Packaging Ltd
- Seller
- Luc and Josee Boudreault and the Boudreault family
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Imperial Dade has acquired Boudreault Packaging Ltd, a Gatineau-based distributor of janitorial, sanitation and foodservice packaging products. Financial terms were not disclosed; Imperial Dade said the deal expands its Canadian presence and will preserve Boudreault's customer-focused culture and team.
-
September 27, 2022
- Buyer
- Borrow A Boat Group
- Target
- KellyBoat
- Industry
- Transportation
- Location
- Massachusetts, United States
- Type
- Buyout
UK-based boat rental marketplace Borrow A Boat has acquired US peer-to-peer charter platform KellyBoat to accelerate its expansion in the United States. The deal will add KellyBoat's local expertise and inventory in New England and Florida markets to Borrow A Boat's global platform as the company opens an in-person US office to serve its fastest-growing market.
-
September 26, 2022
- Buyer
- Patriot Rail Company LLC
- Target
- Delta Southern Railroad, Inc.
- Industry
- Transportation
- Location
- Louisiana, United States
- Type
- Buyout
Patriot Rail Company LLC entered into a definitive agreement to acquire Delta Southern Railroad, Inc., a short line railroad operating two line segments in Louisiana serving two Mississippi River ports. The acquisition (terms undisclosed) expands Patriot Rail’s short line network and strengthens its presence and freight options in a chemical and forest-products corridor in Louisiana; the deal remains subject to customary closing conditions and regulatory authorization.
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- Buyer
- Livonia, Avon & Lakeville Railroad Corporation
- Target
- Ontario Midland Railroad Corp.
- Seller
- Sandra Saracen, Paul Saracen
- Industry
- Transportation
- Location
- New York, United States
- Type
- Buyout
Livonia, Avon & Lakeville Railroad Corporation (LA&L) acquired control of Ontario Midland Railroad Corp. (OMID) by purchasing 55% of its stock on September 16, 2022, subject to Surface Transportation Board authorization. The purchase adds roughly 52 miles of track in Wayne and Monroe counties, New York, expanding LA&L's short-line network and integrating OMID's customer base and transload capabilities; terms were not disclosed and the sellers were previous owners Sandra and Paul Saracen.
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September 16, 2022
- Buyer
- Premium Parking
- Target
- Allpro Parking LLC
- Industry
- Transportation
- Location
- New York, United States
- Type
- Buyout
Premium Parking has acquired Buffalo-based Allpro Parking LLC, integrating Allpro’s operational footprint into Premium’s full‑stack parking technology and management platform. The deal adds 130 Allpro locations across three states, expands Premium’s Midwest and Northeast presence, and supports broader deployment of Premium’s camera‑based payments, cloud permits and subscription parking solutions.
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- Buyer
- Cambridge Capital
- Target
- Boa Logistics, Flow Cold Storage
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
Cambridge Capital has made a majority investment in Boa Logistics and Flow Cold Storage to accelerate the growth of Boa’s refrigerated LTL consolidation and cold‑storage platform. The founders will remain active and retain significant ownership while Cambridge Capital partners join the board; the investment will fund technology, automation, geographic expansion and potential acquisitions to scale the cold‑chain network.
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September 1, 2022
- Buyer
- Accenture
- Target
- MacGregor Partners
- Industry
- Transportation
- Location
- North Carolina, United States
- Type
- Buyout
Accenture has acquired MacGregor Partners, a Raleigh-based supply chain consultancy and technology provider, to expand its Intelligent Platform Services capabilities in warehouse and logistics transformation. The deal brings MacGregor’s team of more than 100 employees and expertise in WMS/TMS implementations, robotics integration, and analytics (including Blue Yonder-based solutions) into Accenture’s platform; terms were not disclosed.
-
August 31, 2022
- Buyer
- Ryder System, Inc.
- Target
- Baton
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
Ryder System, Inc. has acquired San Francisco-based logistics technology start-up Baton, integrating Baton's team and proprietary transportation-optimization platform into Ryder. The acquisition (closed August 31) follows an earlier investment by RyderVentures and brings Baton's founders and core engineering team into Ryder to accelerate customer-facing supply chain and transportation technology development.
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August 22, 2022
- Buyer
- Hub Group
- Target
- TAGG Logistics
- Industry
- Transportation
- Location
- United States
- Type
- Buyout
Hub Group (Nasdaq: HUBG) acquired TAGG Logistics, a nationwide e-commerce, B2B and omnichannel fulfillment and transportation services provider, for $103 million in cash. The acquisition adds TAGG's ~4 million square feet of warehouse capacity, ~800 employees and expected $200 million of 2022 revenue to Hub Group’s logistics offering, expanding its consolidation and fulfillment footprint and e-commerce capabilities.
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August 9, 2022
- Buyer
- SEKO Logistics
- Target
- Pixior, LLC
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
SEKO Logistics has acquired Pixior, LLC, a Commerce, California-based 3PL and e-commerce fulfillment provider with locations on the U.S. West Coast and in Connecticut. The deal brings high-touch fulfillment, drayage and additional warehouse capacity to SEKO, significantly expanding its West Coast footprint and ecommerce capabilities; financial terms were not disclosed.
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- Buyer
- MarineMax, Inc.
- Target
- Island Global Yachting LLC (IGY Marinas)
- Industry
- Transportation
- Location
- Florida, United States
- Type
- Buyout
MarineMax, Inc. entered into a definitive agreement to acquire Island Global Yachting LLC (IGY Marinas) for $480 million in cash, plus a potential earnout of up to $100 million based on performance two years after closing. IGY Marinas operates a network of 23 luxury marinas and a yacht management platform across the Americas, the Caribbean, and Europe, and will continue under its existing CEO and management team.
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- Buyer
- Mill Point Capital LLC
- Target
- URT United Road Towing, Inc. (Vehicle Management Solutions / VMS)
- Industry
- Transportation
- Location
- Illinois, United States
- Type
- Buyout
Mill Point Capital has acquired URT United Road Towing, Inc. (operating as Vehicle Management Solutions or VMS) in a control-oriented buyout to support the company's next phase of growth. Mill Point will leverage its Executive Partner model and industry expertise to expand VMS's vehicle management, towing, impound and remarketing services for public- and private-sector clients across the U.S.
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- Buyer
- Cox Automotive (Cox Automotive Mobility Fleet Services)
- Target
- Trudell (parent company of Trudell Trailers and Northeast Great Dane)
- Industry
- Transportation
- Location
- Wisconsin, United States
- Type
- Buyout
Cox Automotive, through its Cox Automotive Mobility Fleet Services group, has acquired Trudell, the parent company of Trudell Trailers and Northeast Great Dane, adding trailer sales, direct parts distribution and heavy-duty trailer service capabilities to its fleet services portfolio. The deal brings Trudell's mobile on-site maintenance, shop repairs and parts sales (supported by more than 115 technicians across 13 locations) into Cox Automotive's nationwide fleet services network to expand capabilities and adjacency offerings.
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July 20, 2022
- Buyer
- Alberta Investment Management Corporation (AIMCo)
- Target
- Cando Rail & Terminals Ltd.
- Seller
- TorQuest Partners, Cando employee shareholders
- Industry
- Transportation
- Location
- Manitoba, Canada
- Type
- Buyout
Alberta Investment Management Corporation (AIMCo) has agreed to acquire 100% of Cando Rail & Terminals Ltd. from TorQuest Partners and Cando employee shareholders. Cando, headquartered in Brandon, Manitoba, operates a network of 40+ industrial railyards, nine owned terminals and one short-line railroad with 900+ employees and 100+ locomotives; the transaction is subject to customary regulatory approvals and financial terms were not disclosed.
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- Buyer
- Macquarie Infrastructure Partners V (MIP V), Corredor Logística e Infraestrutura S.A. (CLI)
- Target
- Corredor Logística e Infraestrutura S.A. (CLI), Elevações Portuárias S.A. (EPSA)
- Seller
- Rumo S.A. (Rumo)
- Industry
- Transportation
- Location
- Brazil
- Type
- Buyout
Macquarie Infrastructure Partners V, managed by Macquarie Asset Management, entered into an agreement to invest in Corredor Logística e Infraestrutura S.A. (CLI), a Brazilian port terminal operator. The investment will enable CLI to acquire an 80% control stake in Elevações Portuárias S.A. (EPSA) from Rumo S.A. (Rumo), with Rumo retaining a 20% shareholding in EPSA.
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July 11, 2022
- Buyer
- Rekor Systems, Inc.
- Target
- Southern Traffic Services
- Industry
- Transportation
- Location
- Florida, United States
- Type
- Buyout
Rekor Systems, Inc. (NASDAQ: REKR) has completed the acquisition of Southern Traffic Services (STS), combining STS’s 30+ years of traffic data collection and traffic engineering expertise with Rekor’s AI- and machine learning-driven roadway intelligence. The deal expands Rekor’s capabilities to deliver integrated traffic management, urban mobility, and public safety solutions, and STS co-founder Mark Knowles becomes a company shareholder.
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- Buyer
- PrePass Safety Alliance
- Target
- CVO Holding Company, LLC
- Seller
- Astatine Investment Partners
- Industry
- Transportation
- Location
- Arizona, United States
- Type
- Buyout
PrePass Safety Alliance has acquired CVO Holding Company, LLC from funds managed by Astatine Investment Partners. The deal brings CVO's weigh-station bypass, electronic toll payment and safety-analytics capabilities into PrePass to strengthen service delivery for commercial carriers and government transportation partners across North America.
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- Buyer
- GCM Grosvenor, Blue Wolf Capital Partners LLC
- Target
- Hallcon Corporation
- Seller
- Novacap
- Industry
- Transportation
- Location
- Illinois, United States
- Type
- Buyout
GCM Grosvenor and Blue Wolf Capital Partners acquired Hallcon Corporation from Novacap to accelerate Hallcon’s expansion across North America and to scale its electric vehicle (EV) charging infrastructure. The investment will support geographic growth into new U.S. markets and bolster Hallcon’s capabilities serving transit agencies, universities, hospitals, and commercial fleets.
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July 1, 2022
- Buyer
- Transportation Infrastructure Partners, Ridgewood Infrastructure, LLC, Savage
- Target
- Worldwide Terminals Fernandina, LLC
- Industry
- Transportation
- Location
- Florida, United States
- Type
- Buyout
Transportation Infrastructure Partners (a joint venture between Ridgewood Infrastructure and Savage) acquired Worldwide Terminals Fernandina, LLC, the operator of the Port of Fernandina in Florida. The acquisition expands TIP’s portfolio of U.S. port and terminal infrastructure and positions Savage to operate the terminal as part of its broader network of ports and terminals.
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- Buyer
- KNOT Shuttle Tankers AS, KNOT Offshore Partners LP
- Target
- KNOT Shuttle Tankers 35 AS (owner of the shuttle tanker Synnøve Knutsen)
- Seller
- Knutsen NYK Offshore Tankers AS
- Industry
- Transportation
- Location
- Norway
- Type
- Buyout
KNOT Offshore Partners LP, through its wholly owned subsidiary KNOT Shuttle Tankers AS, acquired KNOT Shuttle Tankers 35 AS — the owner of the shuttle tanker Synnøve Knutsen — from sponsor Knutsen NYK Offshore Tankers AS. The acquisition (financed in part by proceeds from a Torill Knutsen sale-and-leaseback) adds a 153,000 dwt DP2 Suezmax shuttle tanker on a five-year fixed charter to Equinor, extending the Partnership’s fleet and charter coverage while improving liquidity and refinancing flexibility.
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June 30, 2022
- Buyer
- Swire Shipping
- Target
- Westwood Shipping Lines
- Seller
- J-WeSco Ltd., Sumitomo Warehouse Co Ltd
- Industry
- Transportation
- Location
- Washington, United States
- Type
- Buyout
Swire Shipping signed a definitive agreement to acquire Westwood Shipping Lines, an independent vessel operator serving the Pacific Northwest–Northeast Asia (Japan, Korea, China) trade. The acquisition was later finalized after regulatory approvals and satisfaction of customary closing conditions.
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June 28, 2022
- Buyer
- A-Z Bus Sales, Inc.
- Target
- Blue Star Bus Sales, Ltd.
- Seller
- Carolyn Degenhart (Founder / CEO, Blue Star Bus Sales)
- Industry
- Transportation
- Location
- Texas, United States
- Type
- Buyout
A-Z Bus Sales, an employee-owned transportation dealer headquartered in Colton, California, has acquired Blue Star Bus Sales, the long-running Blue Bird dealer based in Lubbock, Texas. Blue Star will continue operating under the same name and location while its employees join A-Z Bus; the deal expands A-Z's presence in West Texas and strengthens its school-bus sales, parts and service footprint including alternative-fuel/electric offerings.
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June 27, 2022
- Buyer
- JetBlue Airways Corporation, Sundown Acquisition Corp.
- Target
- Spirit Airlines, Inc.
- Industry
- Transportation
- Location
- Florida, United States
- Type
- Buyout
JetBlue is acquiring Spirit Airlines for $33.50 per share in cash, valuing the deal at about $3.8 billion equity (and $7.6 billion adjusted enterprise value). The offer includes an accelerated $2.50 per-share prepayment upon Spirit shareholder approval and a $0.10 per-month “ticking fee” beginning January 2023, along with an increased $400 million reverse break-up fee.
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- Buyer
- Gores Guggenheim, Inc., Polestar Performance AB and its affiliates
- Target
- Polestar Performance AB, Polestar Automotive Holding UK PLC
- Industry
- Transportation
- Location
- Sweden
- Type
- Buyout
Polestar and SPAC sponsor Gores Guggenheim completed their previously announced business combination, with the combined company retaining the Polestar name. Polestar began trading on Nasdaq on June 24, 2022 under the ticker symbol “PSNY.”
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June 22, 2022
- Buyer
- Global Rail Trust, Global Rail North America
- Target
- Advanced Rail Management Corp.
- Industry
- Transportation
- Location
- Florida, United States
- Type
- Buyout
Global Rail Trust (GRT), via its North American arm Global Rail North America, has acquired Advanced Rail Management Corp. (ARM), a U.S.-headquartered provider of wheel-rail interaction consulting and turnkey rail/wheel maintenance services. The acquisition gives GRT a North American footprint and ARM access to GRT's European expertise and global network to expand services across new markets; financial terms were not disclosed.
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June 15, 2022
- Buyer
- KAG Logistics, LLC, The Kenan Advantage Group, Inc.
- Target
- American PetroLog, LLC
- Industry
- Transportation
- Location
- Louisiana, United States
- Type
- Buyout
KAG Logistics, LLC completed the acquisition of American PetroLog, LLC, a Lafayette, Louisiana-based provider of multi-modal distribution, transloading, storage and liquid-bulk logistics services for the petrochemical industry. The deal brings American PetroLog's team — including President & CEO Jeff Colonna — into KAGL and expands KAG's capabilities and capacity in liquid bulk/petrochemical logistics across North America.
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- Buyer
- Kinetic, Globalvia
- Target
- Go‑Ahead Group
- Industry
- Transportation
- Location
- United Kingdom
- Type
- Buyout
A consortium of Australian bus operator Kinetic and Spanish infrastructure group Globalvia has agreed to acquire UK transport operator Go‑Ahead Group for $789 million (£647.7m). Go‑Ahead shareholders will receive 1,500 pence per share (1,450p cash plus a 50p special dividend); the buyers formed a new acquisition vehicle (Bidco) and expect the deal to close in October 2022, committing to invest in decarbonisation and digitalisation of Go‑Ahead's operations.
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- Buyer
- Steel Partners Holdings L.P.
- Target
- Steel Connect, Inc.
- Industry
- Transportation
- Location
- Tennessee, United States
- Type
- Buyout
Steel Partners Holdings will acquire the remaining common stock of Steel Connect, making Steel Connect a wholly owned subsidiary. The consideration is $1.35 per share in cash plus a contingent value right (CVR) tied to net proceeds exceeding $80 million if Steel Connect’s ModusLink subsidiary is sold within two years after closing.
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- Buyer
- BrightDrop
- Target
- Marain
- Industry
- Transportation
- Location
- California, United States
- Type
- Buyout
BrightDrop, the General Motors‑owned last‑mile electric vehicle and software business, has acquired the fleet optimization software and related talent from California startup Marain. BrightDrop will integrate Marain's AI/ML-powered routing, simulation and predictive analytics into its software stack to help fleet customers lower operational costs and accelerate electrification; Marain cofounders and employees will join BrightDrop to lead data science and ML work.
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June 9, 2022
- Buyer
- Descartes Systems Group
- Target
- XPS Technologies
- Industry
- Transportation
- Location
- Utah, United States
- Type
- Buyout
Descartes Systems Group acquired XPS Technologies, a Cottonwood Heights, Utah-based provider of cloud-based multi-carrier parcel shipping solutions, for approximately $65 million upfront plus up to $75 million in performance-based earn-outs. The acquisition expands Descartes' ecommerce shipping and fulfilment capabilities and brings XPS's network of more than 10,000 customers into Descartes' logistics SaaS portfolio.
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- Buyer
- Despegar.com, Corp.
- Target
- TVLX Viagens e Turismo S.A (Viajanet)
- Industry
- Transportation
- Location
- Brazil
- Type
- Buyout
Despegar.com, Corp. agreed to acquire 100% of TVLX Viagens e Turismo S.A (“Viajanet”), a leading online travel agency in Brazil. The all-cash deal has a total consideration of approximately US$15.5 million (about US$15 million initially announced) subject to customary adjustments and closing conditions.
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- Buyer
- EQT Private Equity, Mubadala Investment Company
- Target
- Envirotainer
- Seller
- Cinven, Novo Holdings
- Industry
- Transportation
- Location
- Stockholm, Sweden
- Type
- Buyout
EQT Private Equity and Mubadala Investment Company have agreed to acquire Envirotainer, the Stockholm-based global provider of temperature-controlled air cargo containers and cold chain solutions for biopharmaceuticals, from Cinven and Novo Holdings for an enterprise value of approximately €2.8 billion. The new owners plan to accelerate geographic expansion (notably in APAC), scale CryoSure and the Releye platform, and invest in technology, digitalization and sustainability; current shareholders may reinvest as minority holders.
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