Transportation Acquisitions in 2025

Hafnia Limited completed the purchase of approximately 14.1 million A shares in TORM plc, representing about 13.97% of TORM's issued share capital. The shares were acquired under a share purchase agreement with Oaktree Capital Management and its affiliates; Hafnia said the stake could support exploration of a potential business combination with TORM.

Affiliates of Caldicot Capital and Tamarix Capital Partners recapitalized Custom Tours, Inc., doing business as Kushner & Associates, in a transaction that closed December 18, 2025. Founder/CEO Susan Kushner will remain as CEO and retain a significant ownership stake while meaningful equity was granted to employees; terms were not disclosed.

RPM Freight Systems, LLC has acquired Dealers Choice Auto Transport, a specialist in premium and luxury vehicle transport for dealerships and auto auctions. The deal, completed with support from RPM's sponsors Trive Capital and Bluejay Capital, expands RPM's dealership and auction coverage and adds specialized, white‑glove vehicle transport capabilities to its tech-enabled logistics platform.

Wrist Group has acquired Delaware Ship Supply (DSS), a century-old ship chandler based in Camden, New Jersey, to strengthen its commercial and operational presence along the U.S. East Coast. The acquired business will be rebranded as Wrist Delaware and integrated into Wrist’s global marine supply and digital platforms; Wrist is a portfolio company of an investment affiliate of J.F. Lehman & Company.

Boatsetter and Getmyboat have merged to form a combined global marketplace for boat rentals and on‑the‑water experiences, with the new headquarters based in Miami. The merger unifies inventory and technology across both platforms to expand geographic reach, accelerate product and AI development, and provide enhanced tools and services for owners, operators and guests.

Typewriter Ascend Ltd, an entity controlled by Stonepeak and an affiliate of Textainer, has completed the acquisition of marine container leasing company Seaco (Global Sea Containers Limited) from Global Sea Containers Two Limited, a subsidiary of Bohai Leasing Co., Ltd. The deal combines Textainer's and Seaco's fleets into an approximately 8.3 million CEU global container leasing platform, reinforcing scale and service capabilities in the container leasing market.

Via has acquired Downtowner, a provider of software-powered transit solutions for destination cities, to expand its public transit technology platform. The acquisition brings Downtowner’s on-demand, flexible routing product and proprietary data into Via’s platform to improve seasonal demand management, operations in complex terrain and development of Via’s AI for Cities solutions.

Grupo Aeroportuario del Sureste (ASUR), through its U.S. subsidiary ASUR US Commercial Airports, LLC, completed the acquisition of URW Airports, LLC from Unibail‑Rodamco‑Westfield's Westfield Development, Inc. The transaction, for an enterprise value of $295 million, establishes the business as ASUR Airports, expanding ASUR's U.S. airport retail concessions footprint across terminals at LAX, JFK and ORD.

Cando Rail & Terminals completed the acquisition of the Channelview rail terminal and associated operations from Texas Deepwater Partners, a joint venture formed by USD Group LLC and Pinto Realty Partners. The purchase gives Cando its first U.S. terminal on the Houston Ship Channel — a multi-customer, multi-purpose facility with existing capacity for 900 railcars and room for future expansion.

Republic Airways Holdings Inc. has completed its merger with Mesa Air Group, creating a combined publicly traded regional airline that will operate the world’s largest Embraer jet fleet and support major carriers under existing and new capacity purchase agreements. Republic stockholders will own approximately 88% of the combined company while Mesa stockholders will own between 6% and 12% pending final settlement of pre-closing obligations.

America's Auto Auction (America's Group) acquired Jefferson Mid-State Auto Auction in Wisconsin and United Mobile Auctions in Monroe, North Carolina, expanding its national network and adding mobile and regional auction capacity. The deals bring two family-owned operations into America's 50+ location network to enhance geographic reach and service offerings for dealer customers.

Vehicle Management Solutions LLC (VMS), a Mill Point Capital portfolio company, has acquired AutoBase Inc., a national provider of safety service patrol and traffic incident management services. The add-on strengthens VMS's Safety Service Patrol (SSP) capabilities, expands its geographic coverage (now serving clients in 22 states) and enhances its ability to serve state and municipal transportation agencies.

Right Traffic has acquired three regional traffic control companies — Southwest Barricades, FC Traffic and Barricades Unlimited — expanding its presence across the U.S. Southwest. The transactions bring local traffic control expertise and equipment rental capabilities into Right Traffic's technology-forward platform to accelerate geographic expansion and improve work zone safety.

Archer Aviation signed definitive agreements to acquire control of Hawthorne Airport (Hawthorne Municipal Airport) near Los Angeles for $126 million in cash and raised $650 million of additional equity capital. Archer intends to use the 80-acre site as the operational center for its planned Los Angeles air taxi network and as an AI-powered aviation testbed to develop next-generation air traffic and ground operations systems.

IPS Group, a San Diego-based provider of smart parking and curb management technologies, has acquired Populus Technologies, a San Francisco-based provider of mobility data, curb management and parking payments software. The acquisition will integrate Populus' mobility and curb-data platform with IPS's parking, payment and enforcement systems to expand IPS's smart mobility capabilities for municipalities, universities, transportation agencies and private operators.

World Kinect Corporation (NYSE: WKC) completed the acquisition of the Trip Support Services (TSS) division of Universal Weather and Aviation, expanding its aviation service capabilities and complementing its core fuel business. The transaction is expected to be approximately 7% accretive to adjusted EPS in year one and to deliver about $15 million of annual net cost synergies by the end of year two.

UPS has completed the acquisition of Andlauer Healthcare Group Inc. (AHG) for CAD $2.2 billion (approximately USD $1.6 billion), paying CAD $55.00 per share in cash. The deal expands UPS Healthcare's cold-chain and specialized healthcare logistics capabilities across North America; AHG founder and CEO Michael Andlauer will lead UPS Canada Healthcare and AHG following the close.

America's Auto Auction (America's Group) has acquired EBlock Houston and EBlock New Orleans, renaming them America's Auto Auction Central Houston and America's Auto Auction New Orleans. The deal expands America's Auto Auction's national footprint to 50 auction locations and strengthens its Gulf Coast presence, combining physical lanes with digital auction capabilities to better serve dealer and institutional consignors.

ParkHelp has acquired Cleverciti Systems GmbH to combine ParkHelp's off-street parking guidance systems with Cleverciti's AI-powered curb management and on-street guidance technologies, creating a single cloud-based platform covering indoor/outdoor and on-/off-street parking. Cleverciti will operate as a wholly owned subsidiary and its team will remain in place as the companies integrate products and expand global reach.

Signature Aviation has acquired Fort Lauderdale Executive Jet Center at Fort Lauderdale Executive Airport (FXE), adding the 10,000 sq. ft. main terminal and more than 100,000 sq. ft. of hangar and office space to its global network. The deal expands Signature's presence in South Florida—one of the busiest private aviation regions—and integrates FXE into Signature's 200+ location network with planned terminal modernization and rebranding.

WOW Cargo Trailers, a large North American trailer dealership headquartered in Cochran, Georgia, has acquired American Trailer Pros, an internet-based trailer sales company, to expand its digital reach and distribution capabilities. The company also announced a new physical location opening near Orlando, Florida, as part of a broader plan to accelerate North American growth through additional dealer acquisitions and expanded regional access.

Towne Park has acquired Frogparking, a New Zealand-based provider of integrated, cloud-based parking systems, combining Frogparking’s sensor, analytics and AI-driven pricing capabilities with Towne Park’s large-scale parking and hospitality operations. The deal is intended to expand Towne Park’s technology-enabled product suite and enhance solutions for hotels, healthcare campuses, airports, municipalities and commercial operators.

Student Transportation of America (STA) has acquired Universal Transportation Systems (UTS), a leading independent student transportation provider in Ohio. Northborne Partners served as exclusive financial advisor to UTS; financial terms were not disclosed. UTS operates more than 350 buses and vans and employs over 350 staff across terminals in the Cincinnati and Columbus metropolitan areas.

America's Auto Auction (America's Group) has acquired Lake Charles Auto Auction, a family-owned dealer auction in Lake Charles, Louisiana. The business will operate as America's Auto Auction Lake Charles and continue weekly dealer-only auctions, with the Pedersen family (owner Matt Pedersen) selling the business to America's as part of the company's southern expansion.

Hoffmann Family of Companies has acquired Pure Florida, a Naples-based maritime tourism operator founded by Captains Lance and Harry Julian. Pure Florida will join HF Companies' marine vertical (Hoffmann Marine) as an add-on to the group's regional hospitality and marine portfolio, with the founders handing the business to the Hoffmann family to continue local operations and growth.

Geotab has acquired Verizon Connect's commercial operations in Australia and nine European countries, welcoming over 400 Verizon Connect employees as part of the deal. The transaction— which excludes Verizon Connect's product, engineering and other non-sales teams—expands Geotab's global footprint and strengthens its offering to small- and mid-sized fleets.

Leviate Air Group, a Dallas-based private aviation operator, has acquired the business operations of Vault Aviation, LLC, a Texas-based private aviation services provider serving sports, entertainment and high-net-worth clients. The deal expands Leviate's client base and capabilities in VIP charter, aircraft management and aircraft sales, with integration and continuity plans underway.

Hoffmann Family of Companies has acquired Olympus Limo, a Tampa Bay-based luxury ground transportation provider that serves individual travelers, corporate clients and large events across more than 350 cities. The deal adds Olympus to Hoffmann's Aviation & Transportation vertical (Hoffmann Transportation Group) and is intended to expand the firm's luxury transportation footprint and accelerate growth while preserving Olympus's service standards.

Watco has received federal approval from the Surface Transportation Board to acquire the 420-mile Great Lakes Central Railroad (GLC). The acquisition, effective September 28, requires Watco to keep currently active GLC gateways open on commercially competitive terms and follows Watco's prior equity investment in GLC since 2013.

Procuritas has acquired a majority stake in Parkman i Sverige AB, a Swedish tech-enabled parking operator headquartered in Täby. Crescent Capital Group’s European Specialty Lending strategy provided unitranche financing to support the transaction; Parkman reported SEK 610 million in revenue for 2024 and employs approximately 85 full-time and 50 part-time staff.

Seneca Partners, an independent financial sponsor, has acquired Nomlas Ventures Inc. (doing business as Busmax), a Rome, Georgia-based passenger bus, van and car rental company. Backcast Partners provided and agented the senior secured debt (with warrants) to support the transaction; the Salmon family will retain a minority ownership stake.

Vehicle Management Solutions (VMS), a portfolio company of Mill Point Capital, has acquired Dynamic Towing Holdings, a leading private-property impound towing operator in Dallas and North Texas. The transaction is an add-on to VMS’s platform strategy to deepen its footprint and integrate Dynamic’s operations into VMS’s technology-enabled vehicle management and parking services network.

Direct Travel, Inc. has acquired ATPI, combining the two businesses to form a global travel management powerhouse with more than $6 billion in annual travel volume. The deal expands Direct Travel’s international footprint and specialized capabilities (energy, marine, sports, mining) while accelerating the global rollout of its Avenir Travel Edition platform.

Zonar has acquired ez enRoute, an Edmonton-based provider of IoT-enabled student tracking and dynamic routing, and integrated its routing engine to launch the Zonar Bus Suite — an all-in-one routing and fleet operations platform for school districts. The deal expands Zonar’s student transportation capabilities, delivering real-time routing, ridership visibility and parent communication features.

Isomeric Industries Inc., a Big Spring, Texas-based supplier of oilfield and industrial chemicals, has acquired Big Spring Rail Systems, Inc., effective September 15, 2025. The purchase — which transfers operation of approximately 8 miles of rail line in Howard County, Texas — will allow Isomeric to reduce raw-material logistics costs and support broader industrial development around Big Spring Airport through a new subsidiary, Isomeric Development Corporation.

Tag Agency Professionals (TAP), a St. Petersburg, Florida-based title and registration services provider, has acquired EZDMV, a Middletown, Rhode Island-based private tag agency specializing in fleet services. The deal adds EZDMV's fleet operations across 16 states (expanding TAP into 8 new states) and will retain founder Dennis Sullivan and the existing management team to help scale TAP's national network.

Montway Auto Transport has acquired TurnTime Transport, an automotive transport brokerage founded in 2019 and based in Phoenix, Arizona. The acquisition strengthens Montway's dealer- and auction-focused transportation capabilities and expands its service reach for dealer and remarketing customers nationwide.

Pro-Vision, a mobile video technology provider backed by Vance Street Capital, has acquired Spartan Radar, a Los Alamitos, California-based developer of software-defined radar and collision-avoidance systems. The acquisition is an add-on to Pro-Vision’s platform intended to expand fleet safety capabilities by integrating advanced radar sensing with Pro-Vision’s vehicle video and data solutions.

North American Rail Solutions (a portfolio company of DFW Capital Partners) has completed a strategic combination with ZA Construction, a Brandon, Mississippi–based outsourced rail support services provider. The deal brings ZA's rail maintenance, construction and support capabilities into the NARS platform to expand geographic reach, shared services and growth for the combined rail services business.

Atlantic Aviation expanded its FBO network to 106 locations with the acquisition of Glacier Jet Center and Rocky Mountain Aircraft Services at Glacier Park International Airport (GPI) in Kalispell, Montana. The deal brings Atlantic’s full range of passenger/crew support, fueling, heated hangars and on-field Part 145 maintenance under its brand as it enters the Montana market.

Parking Management Company (PMC), a Nashville-based national provider of hospitality-focused and commercial parking services, has acquired Clutch!, a technology-driven parking operator serving stadiums, arenas and major event venues across the United States. The acquisition adds 15 stadium and arena clients, integrates Clutch!'s reservation technology with PMC's operational capabilities, and expands PMC's Stadium Event division and national footprint.

Tikehau Investment Management SAS has acquired EYSA Group from an affiliate of H.I.G. Capital (H.I.G. Infrastructure). Headquartered in Madrid, EYSA is a smart and sustainable mobility platform providing parking, tolling, traffic management and low-emission zone solutions; H.I.G. backed the company since May 2022 and more than doubled its EBITDA during ownership, and EYSA's management will remain in place.

Joby Aviation has completed its acquisition of Blade Air Mobility's passenger business, bringing Blade's network of terminals and loyal flyers into Joby's operations. The deal gives Joby immediate access to key markets such as New York and parts of Southern Europe, accelerating its planned commercial launch of electric air taxi service.

Menzies Aviation, an Agility company, has acquired G2 Secure Staff from Tenex Capital Management. G2 is a US provider of outsourced aviation services operating at approximately 90 airports and employing about 12,000 people; the transaction closed on August 26, 2025.

Traffic and Parking Control Co., LLC (TAPCO), a Peak Rock Capital–backed provider of intelligent transportation systems, has acquired Logix ITS, the parent behind Traffic Logix, All Traffic Solutions and Parking Logix. The deal combines TAPCO’s vertically integrated manufacturing, distribution and services with Logix ITS’s hardware and cloud platform to create a broader connected-ITS offering serving thousands of devices and more than 4,000 municipal, law enforcement and commercial customers across the U.S. and Canada.

truckstop.com has acquired Denim, a transportation-focused fintech that provides factoring, automated invoicing, and back-office automation. The acquisition will integrate Denim's AI-driven payment processing and recourse factoring capabilities into truckstop.com's freight marketplace and carrier identity solutions to improve cash flow, reduce time-to-cash, and expand financial services for carriers and brokers.

Funds managed by CVC DIF have acquired American Student Transportation Partners (ASTP) from Access Holdings. ASTP grew rapidly under Access's data-driven operating model—expanding from 435 to over 2,300 vehicles and transporting more than 90,000 students annually—and Access engaged Lincoln International, Miles & Stockbridge, and RSM as advisers on the sale.

VIVE Collision has acquired Evolve: Electric Vehicle Specialists, a state-of-the-art EV-focused collision repair center in New Castle, Delaware. The deal marks VIVE's first location in Delaware (its 63rd location overall) and strengthens the company's EV repair capabilities through Evolve's OEM certifications, 35,000 sq. ft. facility and 25 repair bays.

JustPark has acquired Oobeo, a Toledo-based startup that provides valet, permit management, and contactless parking payment software, as part of its North American growth strategy. The deal brings Oobeo’s mobile-first platform (serving over 6 million users) and CEO Mitch Carter into JustPark to expand product capabilities and accelerate U.S. expansion across municipalities, venues, and real estate operators.

Lyft, Inc. has completed its acquisition of FREENOW, a Hamburg‑based European multi‑mobility/taxi app, creating one of the top global mobility platforms and expanding Lyft’s addressable market into Europe. The deal brings FREENOW’s operations and ~150,000 drivers across 180+ cities into Lyft’s ecosystem, enabling rider/driver roaming, cross‑promotion, and product integration to accelerate geographic and capability expansion.