Transportation Acquisitions in Missouri

LV Petroleum, a Las Vegas–based travel center operator and TravelCenters of America franchisee, acquired two TA-branded travel centers in Missouri from Wilmoth Oil Co. LLC: Ozarks Travel Center in Mount Vernon and TA Strafford in Strafford. The acquisitions expand LVP's growing network of travel centers and strengthen its footprint in the Midwest as part of a broader growth strategy.

Clarience Technologies, backed by Genstar Capital, has acquired Safe Fleet Holdings from Oak Hill Capital. The deal combines Safe Fleet's safety and productivity solutions for fleets with Clarience's global visibility and safety technology platform to broaden product capabilities, cross-sell across vocational end markets, and expand Clarience's global footprint.

Patriot Capital led a debt and equity co-investment to support a majority recapitalization of Central States Bus Sales, Inc. The transaction included co-investors Independent Bankers Capital Funds, Capital For Business, Konza Valley Capital and CSBS President & CEO Jeff Reitz, and provides capital to support the dealer’s long-term growth and geographic expansion across its multi-state territory.

The Hoffmann Family of Companies (HF Companies) has acquired two St. Louis-area transportation providers: Hazelwood-based JED Transportation and Corporate Transportation (St. Louis). The purchases expand HF Companies’ regional transportation services portfolio — adding luxury chauffeured, coach/charter and shuttle capabilities as part of a broader roll-up of transportation assets in the Midwest.

Southern Tire Mart LLC has acquired Friend Tire Co., a wholly owned subsidiary of Yokohama Tire Corp., in a deal finalized April 1, 2023; terms were not disclosed. The acquisition adds nine distribution centers across the U.S. and gives Southern Tire Mart access to additional brands (Falken and Nexen), expanding its wholesale-distribution footprint and capabilities.

First Student, a Cincinnati-based student transportation operator backed by EQT Infrastructure, has signed a purchase agreement to acquire Apple Bus Company, a Cleveland, Missouri-headquartered provider of school and charter transportation. The deal, announced by seller Great Range Capital, expands First Student’s geographic footprint and fleet; the transaction is expected to close by summer 2022 with terms not disclosed.

Canadian Pacific Railway Limited (CP) completed the acquisition of Kansas City Southern (KCS) in a transaction with an enterprise value of approximately USD $31 billion. KCS stockholders will receive 2.884 CP common shares and $90 in cash per KCS common share (and $37.50 for each preferred share); KCS shares were placed into a voting trust pending U.S. Surface Transportation Board approval to create Canadian Pacific Kansas City (CPKC), a single-line railroad linking the United States, Mexico and Canada.

Dickinson Fleet Services, backed by majority shareholder Ridgemont Equity Partners, has acquired Interstate Truck Center of Kansas City, Missouri. The deal creates a combined mobile maintenance platform (700+ mobile repair units) that expands Dickinson's national mobile and emergency fleet maintenance capabilities and positions the business for further growth.

Safe Fleet, a portfolio company of Oak Hill Capital Partners, has acquired American Midwest Fleet Solutions (AMFS) to expand its in-field upfitting and installation services for commercial vehicle fleets across the United States and Canada. AMFS founders will remain with the business, and the deal strengthens Safe Fleet’s nationwide installation network and complementary safety, video and tracking capabilities.

ARC Industries, Inc., a Charlotte-based family office, has acquired the stock and real estate of Kelly-Hill Company, a Kansas City rail maintenance and construction contractor. The seller, long-time owner Neal Houser, is retiring and will phase out responsibilities over 12 months while the company's general manager became president and a significant shareholder. Kelly-Hill operates with about 40 employees and generates roughly $12–15 million in annual revenue.

Midwest & Bluegrass Rail (MBR), a holding company focused on regional and short-line rail assets, has acquired Tomken Transportation from the Smith family. The purchase — driven in part by MBR's interest in the site's rail spur and real estate — involved environmental remediation and complex tax and financing structuring; MBR plans to grow the business and expand its network of freight and logistics holdings.

The Firefly Group, LLC has acquired Express Medical Transporters (EMT), a St. Louis–based provider of non-emergency medical and student transportation with 10 locations across seven states. DVS served as buy-side advisor and structured a deal that includes equity incentives for management to support future growth; the sellers sought a liquidity event.