Transportation Acquisitions in Michigan

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.

Radiant Logistics (NYSE: RLGT) has acquired Focus Logistics, a Michigan-based domestic and international freight forwarder founded in 2003. The small, family-run business will be merged into Radiant’s Detroit operation with co-founder Cliff Kisielewski remaining as general manager while co-founder Terrie Evans retires; financial terms were not disclosed.

Dallas-based private equity firm Trive Capital and Denver-based Bluejay Capital Partners have completed an investment to acquire RPM Freight Systems, an asset-light, technology-driven finished vehicle logistics provider headquartered in Royal Oak, Michigan. Gladstone Capital provided a junior debt facility to support the transaction; the new ownership plans to invest in RPM's technology and service capabilities to accelerate growth across North America and Europe.

Rand Logistics, a Duration Capital Partners-backed Great Lakes bulk-shipping platform, has acquired Andrie, LLC from Auxo Investment Partners. The deal expands Rand’s service offering into liquid bulk commodities (asphalt, cement, refined oil products, calcium chloride) while Andrie will continue to operate under its existing management and brand.

Kenan Advantage Group has acquired Northern Dry Bulk, a Clare, Michigan-based dry bulk transporter and warehousing operator that specializes in transport and storage of plastic resins for automotive, packaging and electronics end markets. The deal — terms not disclosed — brings Northern Dry Bulk's drivers, technicians, 36 tractors, 91 trailers and two terminals into KAG as it enters the dry bulk transportation business (the plastics recycling operation was excluded).

ModuGo, a portfolio company of Kinderhook Industries, acquired Michigan-based A1 Mobile Storage Leasing LLC (and affiliated hauling operation Total Transportation) to establish its first dedicated branch in Saginaw and expand its Midwest footprint. Financial terms were not disclosed; A1 Mobile founder Bill Moore will remain involved as an investor and consultant while ModuGo incorporates A1 Mobile's fleet and hauling assets into its branch-based expansion plan.

Walstrom Marine has acquired Algonac Harbour Club, a family-owned full-service marina on the St. Clair River in Algonac, Michigan. The investor group led by Continuum Ventures (the DeVos family office) — which previously invested in Walstrom Marine — and several family investors will own the marina; founder Peter Beauregard Sr. will serve as a consultant and Pete Beauregard Jr. will retain an ownership stake.

Nation Safe Drivers (a BDT Capital Partners-backed platform) has combined with Questx, a tech-enabled national provider of emergency roadside assistance and auto glass claims solutions. WILsquare Capital exited its investment in Questx after a five-year hold; terms were not disclosed. The combination creates a larger, tech-forward leader in roadside assistance and mobility services for the insurance market.

Trinity Industries, Inc. acquired RSI Logistics for $70 million, closing on March 8, 2023. The deal adds RSI's rail-focused software, logistics services, terminal operations, and intermodal capabilities to Trinity's rail services platform while retaining RSI employees.

Kinderhook Industries recapitalized AWI Holdings (Auto‑Wares) in partnership with management and provided financing through a Truist‑led debt syndicate. Following the recapitalization, Auto‑Wares acquired Lafayette Warehouse, a regional OEM and aftermarket parts distributor in North Central Indiana, as an add‑on to its platform.

Shepler's Ferry Inc., the family-owned operator of ferry services to Mackinac Island, has entered a partnership with The Hoffmann Family of Companies. Greenwich Capital Group served as exclusive financial advisor to Shepler's in the transaction, which transfers ownership/partnership interest from the third-generation Shepler family to the Hoffmann family to ensure continuity of service and stewardship of the business.

Antin Infrastructure Partners has made a strategic growth investment in Lake State Railway Company (LSRC), a Michigan-based regional freight railroad. The capital will support LSRC's continued network investment, customer growth and service expansion while the existing management team remains in place.

Clarience Technologies, parent company to Truck-Lite and Road Ready, has acquired Ann Arbor-based telematics provider Fleetilla to strengthen its connectivity and telematics portfolio. The acquisition brings Fleetilla's hardware and software telematics solutions into Clarience's Road Ready ecosystem to accelerate development of next-generation connected solutions for electric and autonomous commercial vehicles.

Odyssey Investment Partners has acquired Painters Supply & Equipment Co. (PSE), a specialty distributor of paint, coatings and related consumables serving automotive refinish, commercial and industrial markets. The deal will support PSE's continued geographic and category expansion and consolidation strategy while the existing leadership team remains in place; financial terms were not disclosed.

ServiceMaster Brands, a Roark-backed multi-brand residential and commercial services platform, has completed its acquisition of TWO MEN AND A TRUCK/International, Inc., the franchised moving and relocation company headquartered in Lansing, Michigan. The acquisition adds a high-growth franchise moving brand to ServiceMaster's portfolio and keeps TWO MEN AND A TRUCK's leadership and home office in Lansing while creating cross-brand capabilities and charitable commitments.

Hilco Global's Commercial-Industrial team acquired all assets of Sutton Leasing, a national fleet leasing and management company headquartered in Sterling Heights, Michigan, in a multi-million-dollar transaction that closed May 7, 2021. The business — rebranded H19 Sutton Leasing and added to Hilco's H19 group — will operate a fleet portfolio of over 7,000 vehicles and be managed by Hilco's commercial-industrial leadership to realize operational synergies with H19 Capital.

Premier Private Jets, a Florida-based Part 135 air charter operator, has acquired Oakland Air, a full-service FBO, air charter operator and certified repair station at Oakland County International Airport (Pontiac PTK). The acquisition expands Premier’s charter fleet footprint and maintenance capacity, and the PTK facility will be rebranded Premier Jet Services to support both Premier operations and third-party customers.

Mondee Inc., a travel technology company and airfare wholesaler, has completed the acquisition of Cosmopolitan Travel Service (CTS). The deal expands Mondee's distribution footprint and accelerates deployment of its TripPro platform to a larger base of travel agents and niche markets.

Material Handling Systems, Inc. (MHS) has acquired eMotion Controls Co., a Grand Rapids, Michigan-based controls system integration and software company. The acquisition is intended to accelerate MHS's Lifecycle Performance Services (LPS) growth by adding controls, software and robotics integration capabilities across parcel sortation, fulfillment and distribution end-markets. Financial terms were not disclosed.

Affiliates of Paceline Equity Partners acquired Progress Rail Equipment Leasing Corporation (PRELC), the maintenance-of-way (MOW) equipment leasing business formerly held by Progress Rail, a subsidiary of Caterpillar Inc. The transaction was a divestiture by Progress Rail and will allow Paceline to operate an asset-rich equipment-leasing platform serving North American railroad operators and contractors.

A&R Logistics, a Wind Point Partners–backed dry bulk logistics operator, has acquired Blue Water Plastic Transport, a St. Clair, Michigan-based provider of specialty dry bulk transportation, logistics and warehousing for the plastics and chemical industries. The add-on expands A&R’s Midwest presence, increases its specialized tractor/trailer fleet and preserves BWP’s operations in St. Clair under A&R's ownership.

Auxo Investment Partners has acquired a majority stake in Muskegon-based Andrie LLC, a Jones Act bulk transporter operating tugs and barges across the Great Lakes. The investment makes Andrie part of Auxo's newly created Auxo Marine platform alongside M/G Transport Services; financial terms were not disclosed and the Andrie family retains a significant minority stake while Stan Andrie Jr. remains CEO.