Transportation Acquisitions in Illinois

Fortbrand Services LLC, a portfolio company owned by funds advised by Basalt Infrastructure Partners LLP, has acquired Xcēd Aviation Services LLC from Sasser, Inc. The acquisition expands Fortbrand's GSE and AME leasing footprint — creating a combined fleet of over 4,900 pieces of equipment across more than 190 airports — and is intended to enhance service capabilities for airlines, airports, ground handlers and cargo operators.

Vehicle Management Solutions LLC (a Mill Point Capital portfolio company) acquired the assets of Rendered Services, Inc.'s South Chicago operations to expand its relocation towing and vehicle management footprint in the Chicago metro. The add-on transaction strengthens VMS's local capabilities, enhances operational efficiency and improves service for private property relocation customers in the region.

Boston-based private equity firm Berkshire Partners has made a strategic (majority) investment in RJW Logistics Group, a Woodridge, Illinois–based provider of retail logistics and consolidation services for consumer packaged goods (CPG) brands. RJW CEO Kevin Williamson and other management will remain significant investors, and prior investor Mason Wells will remain a minority holder; the deal is intended to support RJW's growth, innovation and geographic expansion.

Location Services, LLC, a recovery management company owned by Delaware Street Capital, has acquired Strategic Remarketing Solutions (SRS), a forwarding and remarketing firm based in Hoffman Estates, Illinois. The transaction expands Location Services' servicing footprint and capabilities—particularly its penetration into regional banks and credit unions—and brings SRS’s experienced workforce and remarketing/title services into the platform.

KKR has acquired The Parking Spot, the leading U.S. near-airport parking operator, from an affiliate of Green Courte Partners. The Parking Spot operates 47 near-airport parking properties across major U.S. airports; financial terms were not disclosed and the company’s management will remain in place as KKR pursues further growth through its Global Infrastructure Strategy.

Transit Technologies has acquired Bytecurve, a provider of student transportation management software, to expand its mobility platform into the K-12 market. Bytecurve's dispatch, scheduling, time & attendance, and payroll capabilities will be integrated into Transit Technologies' suite to improve student transportation operations and safety.

Sun Acquisitions advised on the sale of Chain O' Lakes Transportation, a provider of alternative and special-needs student transportation founded in 2009, to strategic acquirer JW Chicago. The transaction, led by owner Valerie Whitlow's sale, expands JW Chicago's regional student-transportation footprint and consolidates complementary operations.

GlacierPoint Enterprises, a portfolio company of Mill Point Capital, has acquired Chicago-area direct store delivery (DSD) distributor Joe & Ross, Inc. and J & R Dairy Service, Inc. The deal creates GlacierPoint’s GPE–Great Lakes Division as part of a strategic, non‑contiguous expansion into the Midwest to broaden its frozen and refrigerated DSD footprint and capture new retail and foodservice customers.

ACERTUS, an automotive logistics-as-a-service platform, has acquired Guardian Auto Transport to expand its vehicle logistics capabilities and support large-format vehicles. The acquisition brings Guardian's fleet management relationships and operations onto the ACERTUS platform to enhance transport, storage, reconditioning, titling and registration services.

AMCON Distributing Company (NYSE American: DIT) has acquired Burklund Distributors, Inc., a third-generation family-owned distributor based in East Peoria and Fairview Heights, Illinois. The acquisition expands AMCON’s geographic reach and capabilities in convenience and foodservice distribution, and will allow AMCON to continue serving Burklund’s customers from the existing distribution centers.

PS Logistics, through its subsidiary Diamond State Trucking & Logistics, has acquired Yordy Transport, a Morton, Illinois-based flatbed trucking company founded in 2018 by Avery Yordy. The acquisition adds complementary flatbed capacity and building-materials freight lanes across the central and southeastern United States and will fold Yordy Transport into the Diamond State operating brand.

Metropolis Technologies agreed to acquire SP Plus Corporation for $54.00 per share in cash, implying an enterprise value of approximately $1.5 billion. The transaction is financed with $1.7 billion of committed equity and debt financing led by Eldridge and 3L Capital (among others) and is expected to close in 2024, subject to regulatory and shareholder approvals.

STG Logistics has acquired Best Dedicated Solutions (BDS), an over-the-road (OTR) transportation provider, to add expedited, dry van, temperature-control, and flatbed trucking capabilities to its port-to-door containerized logistics platform. The acquisition expands STG's service offering by integrating OTR asset-based transportation with its existing intermodal, drayage, transload, and warehousing network.

Ritchie Bros. Auctioneers Incorporated completed its acquisition of IAA, Inc. on March 20, 2023, in a deal in which IAA shareholders received $12.80 in cash and 0.5252 Ritchie Bros. common shares per IAA share. The transaction combines two leading vehicle and equipment marketplaces to expand Ritchie Bros.' digital marketplace capabilities and broaden its global footprint; IAA common stock ceased trading following the close.

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.

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.

Investcorp, a global alternative investment firm, has acquired S&S Truck Parts, a long-established independent distributor of private-label and branded aftermarket truck parts. The partnership will support S&S's organic growth through new product introductions and North American geographic expansion while pursuing strategic add-on acquisitions; DJ Hoffman will retain a significant ownership stake.

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.

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.

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.

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.

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.

FleetPride, Inc. acquired the assets of All Pro Truck & Trailer of Rockford, Illinois. The shop — founded by Brian Hicks in 2000 and operating 16 service bays with onsite, towing and roadside capabilities — will operate as a standalone FleetPride Service Center to strengthen FleetPride’s parts and service coverage in the Rockford region.

48forty Solutions, a portfolio company of Audax Private Equity, has acquired Prime360, a Schaumburg, Illinois-based provider of pallet management and brokerage services. The add-on expands 48forty’s national pallet management and logistics capabilities, combining Prime360’s retail-focused services and brokerage relationships with 48forty’s existing network to grow their service offering and footprint.

Thomas H. Lee Partners (THL) led a $100 million Series D growth round in FourKites, a Chicago-based real-time supply chain visibility software provider. Strategic investors Zebra Technologies, Volvo Group Venture Capital and Qualcomm Ventures joined the financing to help FourKites accelerate product innovation, expand market penetration and pursue organic and inorganic growth initiatives.

AEA Investors' Small Business Fund has closed the acquisition of Montway, Inc., a fast-growing US vehicle transport broker. Montway operates a technology-enabled platform serving both B2C and B2B customers, providing load matching, instant quoting and real-time tracking; AEA plans to support growth and further penetrate the B2B market.

Omnitracs has acquired VisTracks, a provider of device-agnostic, SaaS-based compliance and telematics solutions for the transportation industry. The acquisition accelerates development of the Omnitracs One platform, advances Omnitracs' hardware-agnostic strategy and expands the company's reach into the SMB market via VisTracks' reseller community.