Logistics & Distribution Acquisitions in 2024

Switzerland-headquartered Fracht AG has agreed to acquire the entire shareholding of Dublin-headquartered Quality Freight Group, including Quality Freight Ltd and its subsidiary units (Renewable Logistics, Quality Freight Belfast, Quality Port Logistics, Quality Freight Netherlands and Quality Freight Inland Container Depots). The deal brings Fracht expanded project-cargo, bulk-tank/container logistics and Irish/Benelux warehousing and depot capabilities and integrates Quality Freight’s local teams and facilities into Fracht’s global network.

Rent-A-Container, a Kinderhook Industries portfolio company, acquired the rental assets of Containerize Corp. The asset purchase increases RAC's available fleet in the Southeast to bolster its Douglas, Georgia branch and better serve demand across the Florida/Georgia market as part of RAC's ongoing expansion.

DAT Freight & Analytics has acquired the operations of Trucker Tools LLC from ASG (a portfolio company of Alpine Investors) to integrate real-time load tracking, automated booking, and digital freight-matching capabilities into its DAT One platform. Trucker Tools will continue to operate under its current leadership, with CEO Kary Jablonski joining the DAT executive team; the deal closed on December 17, 2024.

Automotive Color & Supply, a portfolio company of WILsquare Capital, has acquired Paint Works, a regional distributor of automotive and industrial paint and supplies based in Tyler, Texas. Terms were not disclosed; the deal expands ACS' footprint in the South (Texas, Arkansas and Louisiana) and ACS will continue operating Paint Works branches under the existing Paint Works brand.

RD Last Mile Holdings, LLC (doing business as ADL Final Mile) has acquired Henry Industries, Inc. (d/b/a Henry Freight Solutions), a final-mile and customized logistics provider operating across Illinois, Missouri, Kansas, Arkansas, Oklahoma and Texas. The deal — ADL Final Mile's fourth acquisition — is backed by equity partners including Red Dog Equity and Tom Pritzker's family interests (advised by The Pritzker Organization) with Monroe Capital providing financing, and is intended to densify ADL Final Mile's Midwest and South-Central U.S. footprint.

CargoSprint, a Lone View Capital portfolio company, has acquired Advent Intermodal Solutions LLC (Advent eModal), the world's largest port community platform. The combination expands CargoSprint's freight payments and workflow orchestration capabilities across air, sea and land, and follows Lone View Capital's strategic investment in CargoSprint earlier this year.

An affiliate of Sun Capital Partners, Inc. has acquired substantially all assets and the trade name of Northern Wholesale Supply, LLC. The Lino Lakes, Minnesota-based distributor of RV, marine and powersports parts will continue operating as Northern Wholesale Supply and will focus on operational improvements, expanding proprietary product lines, and North American market expansion while preserving over 200 jobs.

Partners Warehouse, a portfolio company of Red Arts Capital, has acquired PSS Distribution Services, a Northeast third-party logistics (3PL) provider headquartered in Jamesburg, New Jersey. The add-on expands Partners Warehouse's East Coast footprint, strengthens its food- and ingredients-focused warehousing capabilities, and broadens its service offering for retail, grocery and e-commerce customers.

Cart.com has acquired OceanX, the wholly-owned fulfillment operations arm of Guthy‑Renker, adding approximately 200 employees and two facilities (over 600,000 sq ft) to its network. The deal deepens Cart.com’s tech-enabled logistics and fulfillment capabilities for beauty, health and wellness brands and brings Bill Guthy on as a strategic advisor.

AMCON Distributing Co., an Omaha-based convenience and foodservice distributor, has acquired Arrowrock Supply from Davis-Jones Inc. of Boise, Idaho. The acquisition expands AMCON's footprint in the Intermountain West and will allow AMCON to serve Arrowrock customers from Arrowrock's Boise distribution center.

Ridgewood Infrastructure has acquired Valley Cold Storage & Transportation, a New Mexico–based provider of temperature-controlled storage and logistics services, to support the company’s continued expansion into existing and new markets. Citizens served as exclusive financial advisor to Ridgewood and Kirkland & Ellis represented Ridgewood on the transaction.

Finnish material-handling manufacturer Konecranes has acquired two subsidiaries of the Peinemann group — Peinemann Port Services and Peinemann Container Handling — expanding its service and sales presence in the Netherlands, particularly in the Port of Rotterdam. The deal brings roughly 100 employees into Konecranes, will not affect distribution arrangements outside the Netherlands, and supports Konecranes' plans to broaden services and accelerate electrification of lift trucks in a key market.

UOVO has acquired Vino Vault, adding the latter's wine storage facilities in Los Angeles, Port Chester (NY), Dallas, Houston, and Denver to UOVO's portfolio. The deal, supported by Vino Vault shareholder Manhattan West, expands UOVO Wine's geographic footprint and service capacity for wine collectors across the United States.

GCL (Global Critical Logistics), parent company of Rock-it Cargo, has acquired Magusa Global Cargo, a Miami-based specialist in live events and touring logistics for Latin artists. The acquisition aims to deepen GCL's capabilities and reach in the Latin music and live-events markets; terms were not disclosed.

TFI International has acquired Keystone Western, a Manitoba-based asset-based logistics provider specializing in truckload and less-than-truckload (LTL) services across Canada and the United States. Founder and CEO Norm Curtis sold the company to TFI; Keystone Western will gain access to TFI's resources, expanded equipment and a broader North American network.

Odyssey Logistics has acquired OctoChem, Inc., a Vandalia, Illinois-based chemical sample fulfillment provider founded in 1995. The acquisition expands Odyssey’s chemical sample fulfillment, hazardous-materials handling and warehousing capabilities, strengthening its multimodal logistics and regional/international fulfillment network.

Radiant Logistics, through its wholly owned subsidiary Radiant Road & Rail, acquired the assets and operations of TCB Transportation, a St. Louis-based intermodal marketing company specializing in 40- and 53-foot container movements across North America. The transaction is structured with a portion of the purchase price payable based on future performance; TCB will continue under founder Jerry Kausch, Jr.'s leadership and is expected to transition to the Radiant brand in 2025.

Lynxis LLC, a provider of landside logistics and port orchestration solutions, has acquired TEDIVO LLC, the developer of BAPLIE Viewer Online and other maritime stowage planning tools. The acquisition expands Lynxis' digital offerings for terminal operators and shipping lines by adding TEDIVO's stowage visualization, vessel definition and validation capabilities.

Schneider National, Inc. agreed to acquire Cowan Systems, LLC and affiliated entities for approximately $390 million in cash, plus separate real estate purchases of about $31 million. The Baltimore-based dedicated contract carrier — which operates roughly 1,800 trucks and 7,500 trailers across 40+ Eastern and Mid‑Atlantic locations — will become a wholly owned subsidiary to expand Schneider's Dedicated capacity and capabilities.

Imperial Dade has acquired San-A-Care, a Waukesha, Wisconsin-based distributor of cleaning and janitorial supplies. The acquisition expands Imperial Dade's presence in the Milwaukee area and represents the company's 95th acquisition under current leadership; financial terms were not disclosed.

HCI Equity Partners recapitalized Tri-State Enterprises in November 2023 and launched the HCI-backed platform Driven Distribution Group, which completed the acquisition of the auto parts and accessories distribution business of Chicago Parts & Sound in October 2024. Financial terms were not disclosed; Bob and Jackie Lederer are reinvesting in the platform and Tri-State will remain an operating brand within Driven Distribution. HCI also appointed Matt Johnson as CEO of Driven Distribution Group to lead platform growth and integration.

OneCompass Holdings has made a strategic minority investment in Evolve Global Logistics (EGL), a minority-owned third-party logistics provider based in the Columbus, Ohio area. The funding is intended to support EGL's growth, operational excellence and scaling capabilities, leveraging OneCompass's logistics experience (including related holding FST Logistics) to drive synergies and expand EGL's service reach.

Munich-based CERTANIA, a Testing, Inspection & Certification (TIC) group, has acquired RAS-SCI, a Bromley-headquartered provider of supply chain assurance and compliance solutions. The deal brings RAS-SCI's proprietary technology and 450+ auditor network into the CERTANIA platform to expand capabilities in retail and grocery supply-chain assurance and to accelerate growth into mainland Europe; RAS-SCI's founders and directors will remain involved in the business.

Rent-A-Container, a portfolio company of Kinderhook Industries, has acquired Stuff-It Storage, a portable storage container and container office provider based in Springfield, Illinois. The deal marks RAC's 10th branch location and expands its Midwest footprint; Stuff‑It founder Harvey Horton will remain with RAC post-close to support growth.

Argosy Private Equity has made a platform investment in Western Peaks Logistics, a Salt Lake City–based provider of same-day and next-day final-mile delivery services across the Mountain West. Argosy said it will support WPL’s network expansion, invest in fleet and technology, and leverage the company’s routed and on-demand networks to accelerate growth.

Imperial Dade has acquired Economy Products & Solutions, Inc. (EPS), a Rochester-area distributor of janitorial, packaging and foodservice supplies owned by Denise Wesley. Financial terms were not disclosed; Imperial Dade said the deal expands its presence in Rochester and upstate New York and will leverage Imperial Dade's national platform to support EPS's growth.

Lone View Capital, a growth-oriented private equity firm, has made a strategic investment acquiring a majority ownership stake in CargoSprint. The deal installs longtime board advisor Caro Krissman as CEO while founder Joshua Wolf moves to a board advisory role; Lone View said it will support increased R&D and the company’s next phase of growth.

Finnish rail logistics operator Nurminen Logistics Plc has acquired Swedish railway logistics company Essinge Rail AB. The deal expands Nurminen's scheduled rail network and service offering across the Nordics and continental Europe, strengthening its position in low-emission rail freight and adding Essinge Rail's Less-than-Container-Load (LCL) European service.

Swissport International AG has signed an agreement to acquire ViaEurope, a specialist in end-to-end cross-border e‑commerce handling, to expand Swissport’s e‑commerce and air cargo service offering across aircraft handling, warehousing, customs clearance and last‑mile preparation. ViaEurope operates e‑HUBs at major European airports (including Amsterdam Schiphol and Liège), and the acquisition will broaden Swissport’s capability to serve shippers, cargo airlines and freight forwarders; the transaction is subject to regulatory approvals.

OIA Global has acquired Australian freight forwarders BTi Logistics and Airmark Ocean & Air Logistics to establish and strengthen its Oceania footprint across Australia, New Zealand and Singapore. The purchases expand OIA’s capabilities in freight forwarding, 3PL/warehousing and specialized air/ocean logistics across automotive, healthcare, energy and industrial end markets.

ParagonX Holdings, Inc. announced agreements to divest two subsidiaries, Canary Travel and AV Rover, as part of a broader transformation and debt-restructuring plan managed by Caprino Management, LLC. The divestitures are intended to reduce debt, simplify the company's portfolio, and position ParagonX to return to compliance with OTC Markets and pursue accretive opportunities.

Imperial Dade has acquired California Janitorial Supply Corp. (CalJan), a San Jose-based janitorial supplies distributor founded in 1985. The acquisition expands Imperial Dade's presence in the San Jose market and brings CalJan's local customer relationships and product expertise onto Imperial Dade's larger distribution platform; financial terms were not disclosed.

MODE Global has acquired the freight brokerage business of Jillamy, integrating Jillamy's freight team and assets into MODE's 3PL platform. The deal transfers more than 200 employees and adds facilities across multiple U.S. states and Ontario, while Jillamy retains its warehousing, packaging and fulfillment operations.

Lineage, Inc. (NASDAQ: LINE) acquired the assets of ColdPoint Logistics, a temperature-controlled warehousing and transport provider based in the Kansas City area, for approximately USD 223 million. The deal closed on November 1 and expands Lineage's Midwest footprint and access to the protein corridor and intermodal export capacity via onsite rail at ColdPoint's 621,000-square-foot facility.

ZAPI GROUP has acquired UBIQUICOM, an Italian provider of Real-Time Locating Systems (RTLS) for manufacturing, transportation and logistics. The deal expands ZAPI GROUP’s systems integration and warehouse automation capabilities by adding RTLS hardware and software expertise to its electrification and material-handling offerings.

Dutch logistics automation specialist Vanderlande has signed an agreement to acquire Siemens Logistics from German technology company Siemens. The deal — approved by the management and supervisory boards (including Vanderlande’s parent Toyota Industries Corporation) and subject to regulatory approvals — will expand Vanderlande’s airport baggage, cargo handling and digital solutions capabilities and is expected to close next year.

Portabull Cold Storage has acquired Portable Refrigeration Storage, Inc. (PRS) to expand its electric-powered temporary on-site cold storage rental fleet and strengthen its presence in the Southeast United States. PRS’s customers and team will join Portabull as the company integrates PRS’s fleet to broaden service coverage and meet rising demand for sustainable, electric temporary cold storage solutions.

Austin-based private equity firm Blue Sage Capital has completed an investment in MHW, Ltd., a U.S.-based provider of licensed importation, distribution, compliance and logistics fulfillment services for the beverage alcohol industry. The partnership (with financing support from TPG Twin Brook Capital Partners) will fund MHW’s growth and expansion of its tech-enabled service offering.

Pike Street Capital portfolio company QuickBox Fulfillment has acquired SKU2U, a Dallas/Fort Worth-area eCommerce fulfillment, warehousing, and distribution provider. The deal adds SKU2U’s 70,000 sq. ft. climate-controlled facility to QuickBox’s network, expanding capacity and temperature-regulated capabilities for health, beauty and other D2C customers in the fast-growing Dallas region.

GreyLion Partners has made an equity investment in Birdseye Security Solutions, the Mississauga-based provider of AI-enabled remote video monitoring and logistics yard supervision. The capital — Birdseye's first institutional investment since its 2011 founding — will support the company's growth and scaling across transportation, automotive and warehousing end-markets.

Accenture has acquired Joshua Tree Group (JTG), a Franklin, Tennessee-based supply chain consulting firm focused on distribution center performance, workforce coaching and advanced analytics. The acquisition expands Accenture's capabilities in warehouse optimization and autonomous supply chains by combining JTG's on‑the‑ground operations expertise with Accenture's digital, AI and digital-twin technologies; terms were not disclosed.

Metro Supply Chain Inc. has acquired Quick Contractors, a North American managed network of independent contractors and installers. Quick Contractors will operate as a specialty service within Metro Supply Chain's Last-Mile Transportation Solutions to expand the combined company's home delivery and installation capabilities for retailers and consumers.

SAS Shipping Agencies Services Sàrl, a subsidiary of MSC Mediterranean Shipping Company SA, completed the acquisition of 42.06% of Clasquin SA from Mr. Yves Revol and OLYMP3 at a price of EUR 142.03 per share. SAS will file a tender offer with the AMF for the remaining shares at the same price and may pursue a squeeze-out; the transaction is supported by Clasquin's CEO and other key management who committed c.8.5% of the share capital to tender into the offer.

Imperative Logistics Group has acquired JAMCO, a Laredo-based provider of U.S.-Mexico cross-border logistics, customs brokerage and international trade compliance services. The acquisition expands Imperative's capabilities in the vital U.S.-Mexico trade corridor, enabling broader cross-border offerings for manufacturers nearshoring to Mexico and strengthening its mission-critical forwarding and expedited services.

Seino Holdings acquired 66.6% of Mitsubishi Electric Logistics Corporation from Mitsubishi Electric Corporation and the company was renamed MD LOGIS CORPORATION. Following the share transfer, Seino holds 66.6% of voting rights and Mitsubishi Electric retains 33.4% as an equity-method affiliate.

Universal Logistics Holdings, Inc. acquired Parsec (including Parsec Intermodal of Canada ULC and OB Leasing, LLC) for $193.6 million. Parsec is a Cincinnati-based provider of rail terminal management, drayage and intermodal services with ~2,100 employees and $230.2 million of trailing-twelve-month revenue; the business will operate within Universal's contract logistics segment to expand its rail terminal capabilities and is expected to be immediately accretive.

Gardewine Group Limited Partnership has entered into a definitive share purchase agreement to acquire Westman Courier & Freight, a Winnipeg-based regional courier and trucking operator. The deal, expected to close October 1, 2024, expands Gardewine's service network across Manitoba and into northwestern Ontario and gives Westman customers access to Gardewine's broader transportation, logistics and terminal network.

Buske Logistics, a portfolio company of Miami-based private equity firm Fourshore Partners, has acquired Hydra Warehouse and Transportation. The acquisition adds Hydra's five warehouses (approximately 1.5 million square feet) in the Louisville/southern Indiana area, expanding Buske's 3PL warehousing and transportation capabilities in the bourbon and food processing end markets.

Vista Equity Partners (through its Endeavor Fund) made a strategic growth investment in Gnosis Freight to support the logistics-software company's product and customer expansion. Gnosis Freight provides a Container Lifecycle Management (CLM) SaaS platform that delivers container tracking and supply chain visibility for ocean carriers, shippers, forwarders, truckers and 3PLs.

RXO (NYSE: RXO) has completed the acquisition of Coyote Logistics from UPS for $1.025 billion, making RXO the third-largest provider of brokered transportation in North America. The deal expands RXO's customer base, carrier network and market scale while integrating Coyote's people and technology into RXO's asset-light, tech-enabled brokerage platform.