Transportation Acquisitions in Connecticut

Pangaea Logistics Solutions Ltd. completed a combination transaction with Strategic Shipping Inc., issuing 18,059,342 shares (approximately 27.6% of outstanding stock) to SSI in exchange for fifteen handy-size dry bulk vessels. The vessels were valued at approximately $271 million at closing (inclusive of $100 million of vessel financing assumed), and the deal closed following shareholder approval on December 30, 2024.

Maersk Tankers has acquired Penfield Marine to form a larger-scale crude and product tanker company that expands commercial management, pool operations and decarbonisation capabilities. The deal brings Penfield’s customers, partners and staff into Maersk Tankers’ platform to broaden service offerings for cargo customers and pool partners.

STG Logistics, a Wind Point Partners portfolio company, acquired the intermodal division of XPO Logistics and will operate the combined business as STG Logistics. The transaction created a vertically integrated port-to-door containerized logistics provider and was accompanied by a recapitalization of STG by Wind Point and funds managed by Oaktree Capital Management; financing was led by Antares Capital and other lenders.

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.

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.

WolfePak Software has acquired the Welltrax and Fleet Management product lines from Vertrax, adding cloud-based load, dispatch, and driver management capabilities to its mobile product suite. The acquisition expands WolfePak's offerings for crude and bulk commodity haulers by integrating fleet management, ELD/telematics connections, and driver workflows with its back-office oil and gas ERP solutions.

FlashParking, a parking mobility technology company based in Austin, Texas, acquired the Parking Division of Control Systems Incorporated (CSI), a Connecticut-based parking systems provider. The purchase expands FlashParking's customer base in the U.S. Northeast (approximately 1,600 CSI customers) and transfers most of CSI's team to FlashParking while CSI retains a maintenance business for legacy equipment.

Infinedi Partners completed a $115 million investment in LAZ Parking, partnering with founder Alan Lazowski and existing management to support the company's next phase of growth. LAZ Parking, headquartered in Hartford, Connecticut, is a leading tech-enabled parking operator across 42 states with over 3,700 locations and a diversified blue-chip customer base.

Wheels Up completed the acquisition of Gama Aviation LLC (d/b/a Gama Aviation Signature) on March 2, 2020, bringing Gama’s aircraft management and private charter operations into Wheels Up’s owned and managed fleet. The deal integrates Gama’s Part 135 operator capabilities and personnel to expand Wheels Up’s aircraft management, charter offerings and overall operational footprint while retaining Gama operations in Shelton, Connecticut.

Affiliates of Brookfield Infrastructure Partners and GIC have completed the acquisition of Genesee & Wyoming Inc. in an approximately $8.4 billion transaction (including debt), taking G&W private at $112 per share. G&W — a Darien, Connecticut‑headquartered owner/operator of short line and regional freight railroads with about 8,000 employees and operations across North America, Europe and Australia — will be integrated into Brookfield's global infrastructure platform.