Transportation Acquisitions in Indiana

Tenstreet, the trucking industry's marketplace platform, has acquired DriverReach, a driver recruitment and compliance management software company. The acquisition will combine both companies' driver and carrier audiences and integrate DriverReach's recruiting and compliance capabilities into Tenstreet's platform to scale its network and improve usability for carriers and private fleets.

Allied Industrial Partners-backed Celebrity Coaches has acquired BandWagon RV Rentals, an RV provider specializing in mid-level tour transportation, for undisclosed terms. The add-on expands Celebrity's fleet to over 120 vehicles, with BandWagon's management (including Founder Marvin Clarke and President Jeremy Clarke) remaining with the integrated company and marks Celebrity's third add-on since Allied's investment in early 2024.

Priority Courier Experts (a portfolio company of Trident and Bluejay Capital) has acquired NOW Courier, a 38-year-old Indianapolis-based same-day courier and expedited delivery provider. The transaction is an add-on to expand PCE's geographic footprint and service capabilities across Indiana and adjacent markets.

AmeriGuard Security Services, Inc. (OTCQX: AGSS) announced the acquisition of TransportUS, Inc. in an all-stock transaction to expand the company's service portfolio into transportation. The deal is intended to combine TransportUS's transportation infrastructure with AmeriGuard's security capabilities to offer integrated solutions and drive topline growth.

Cadence Petroleum Group, a Wellspring Capital Management-backed distributor, has acquired Hoosier Penn Oil, Inc., an Indianapolis-based distributor of motor oil, lubricants, and car care chemicals. Periculum Capital advised HP Oil on the sale as Cadence seeks to increase the density of its Indiana footprint; HP Oil will continue to operate under its current name while leveraging Cadence's broader product and service offerings.

OnLine Transport Inc., a national asset-based carrier headquartered in Greenfield, Indiana, acquired A/T Transportation and Automated Logistics, Inc. of Ferdinand, Indiana, effective August 11, 2023. The deal is an add-on to OnLine’s expanding platform—its sixth acquisition since 2019—adding truckload capacity, warehousing and brokerage capabilities and new shipper relationships.

FleetPride, Inc. has acquired the assets of Frame Service, Inc., a long-running truck and trailer maintenance and repair shop in Fort Wayne, Indiana. The acquisition expands FleetPride's service footprint and capabilities in the Indiana market and brings the Frame Service team and operations into FleetPride's national network.

Patrick Industries, Inc. (NASDAQ: PATK) has completed the acquisition of Elkhart, Indiana–based BTI Transport, a marine transportation provider. BTI will operate as Patrick Marine Transport, expanding Patrick's transportation and logistics capabilities for OEMs and dealers in the leisure lifestyle markets.

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.

Carvana has acquired the ADESA U.S. physical auction business from KAR Global for $2.2 billion, including 56 U.S. auction locations, approximately 6.5 million square feet of buildings and related operations and staff. The deal gives Carvana expanded physical auction and vehicle logistics capacity to support its retail marketplace while allowing KAR to focus on its digital marketplace strategy.

Huron Capital Partners acquired Tipton Holding Group, parent of Indianapolis-based Hoosier Logistics, and will merge Hoosier with its 3PL platform Direct Connect Logistix (DCL) as an add-on. The deal expands DCL's national footprint and deepens its temperature-controlled and time-sensitive freight brokerage capabilities for food and beverage customers.

Brightstar Capital Partners acquired a majority stake in XLerate Group from Huron Capital, with XLerate's senior management and Huron Capital retaining minority equity. XLerate, based in Carmel, Indiana, operates fixed-site, mobile and digital used-vehicle auctions across a multi-state footprint and will pursue further growth and technology investment under Brightstar's ownership.

Calera Capital completed a majority recapitalization of FitzMark, LLC, partnering with founder and CEO Scott Fitzgerald to support the company's growth. FitzMark, a Indianapolis-headquartered third-party logistics firm serving truckload, flatbed, refrigerated and LTL markets, will leverage the partnership to pursue organic growth and targeted acquisitions; terms were not disclosed.

Barnhart Crane & Rigging has acquired Days Machinery Movers of Elkhart, Indiana in a strategic acquisition sourced by Calder Capital. The deal expands Barnhart’s heavy-transport and rigging footprint in the U.S. Midwest and brings a long-established regional machinery-moving operator into Barnhart’s national network.

H19 Capital, LLC — a joint venture between Hilco Global and Colbeck Capital Management — acquired substantially all of the assets of 19th Capital Group in a multi‑million dollar asset purchase that closed May 1, 2020. The transaction transfers thousands of trucks and trailers, service equipment, intellectual property and a portfolio of receivables (including over 600 leases) to the buyer as Hilco-led teams restructure and operate the business as a going concern in Indianapolis, preserving jobs and positioning the operation for post‑pandemic recovery.

WHC INDY, LLC dba zTrip has acquired the assets of Indianapolis Yellow Cab and launched service in Indianapolis with an initial fleet of 60 new silver sedans. The acquisition brings zTrip's model — combining e-hailing features with regulated taxi safety — to the Indianapolis market as part of the company's broader expansion across U.S. cities.

Foundation Investment Partners (FIP), a Cleveland-area private equity firm, recapitalized W.A. Jones, a truck equipment distributor and upfitter based in Whitley County, Indiana. The deal provides owner liquidity and growth capital to support systems, people and expansion; terms were not disclosed.