Transportation Acquisitions in New York

Vehicle Management Solutions LLC (VMS), a Mill Point Capital portfolio company, has acquired AutoBase Inc., a national provider of safety service patrol and traffic incident management services. The add-on strengthens VMS's Safety Service Patrol (SSP) capabilities, expands its geographic coverage (now serving clients in 22 states) and enhances its ability to serve state and municipal transportation agencies.

Joby Aviation has completed its acquisition of Blade Air Mobility's passenger business, bringing Blade's network of terminals and loyal flyers into Joby's operations. The deal gives Joby immediate access to key markets such as New York and parts of Southern Europe, accelerating its planned commercial launch of electric air taxi service.

Haveli Investments, a technology-focused private equity firm based in Austin, has acquired Accommodations Plus International (API), a Melville, New York–headquartered provider of crew accommodations and travel technology solutions. API serves 85+ airline, cargo, rail and cruise clients, manages a network of 6,000+ hotels across 700+ cities, and will leverage Haveli's capital and technology expertise to accelerate global expansion and product/platform enhancements.

Transit Technologies has acquired busHIVE, a transportation management software provider that offers trip and charter management, driver compliance, and vehicle preventative maintenance tools. The acquisition will integrate busHIVE's capabilities into Transit Technologies' K-12 transit platform to expand product functionality and operational efficiency for school districts, contractors, and motorcoach operators.

Fleetworthy has acquired Empire Commercial Services, a New York City provider of commercial parking violation management and resolution, to expand its fleet technology suite. The acquisition adds Empire's S.M.A.R.T. summons management platform and violation-handling expertise to Fleetworthy's capabilities, enabling scaling of Empire's offerings beyond New York into other high-density urban areas.

Callaway Hudson Partners (a partnership between Hudson Valley Parking Trust and Callaway Capital Management) has acquired ICON Parking, an operator of parking garages and mobility services in New York City. Growth capital for the acquisition was provided by Turning Rock Partners and Arkview Capital to support ICON’s expansion and pursuit of ancillary markets, including EV charging and broader geographic growth.

The Broe Group has partnered with Hudson Valley Parking Trust to acquire 100% of ICON Parking, New York City's largest parking operator. The transaction gives the buyers control of more than 150 NYC locations (over two million annual transactions) and aims to combine Broe's real estate expertise with HVPT's parking operational capabilities to support national expansion and growth initiatives.

Bestpass, a toll management and payment platform, has acquired Fleetworthy Solutions, a provider of fleet safety, compliance, and risk management software and services. The deal integrates Fleetworthy's CPSuite compliance platform with Bestpass's tolling and payments capabilities to create a one-stop, tech-powered offering for commercial fleets; terms were not disclosed.

Copenhagen-based Danelec has acquired the AI-based technology platform from New York-based Nautilus Labs to combine Danelec’s onboard data capture hardware and install base with Nautilus Labs’ fleet-performance analytics. The deal adds vessel optimization and advanced machine-learning analytics to Danelec’s offering, while the Nautilus platform will continue to operate and support existing customers under Danelec ownership.

Beacon Mobility has acquired Rolling V Bus Corporation, a family-owned full-service transportation company based in South Fallsburg, New York. Rolling V — which operates seven locations, a fleet of 277 vehicles and roughly 380 employees — will join Beacon Mobility's growing family of local transportation companies, expanding Beacon's footprint in upstate New York and the Catskills region.

Funds advised by Basalt Infrastructure Partners have acquired Fortbrand Services LLC from a fund managed by Wincove Private Holdings and other investors. Fortbrand is an asset-backed ground support equipment (GSE) and airport maintenance equipment (AME) lessor serving airlines, airports, cargo companies and FBOs across the United States, United Kingdom and Canada; Basalt said it will support the company's next stage of growth and asset-base expansion.

Delta Air Lines, Certares Management LLC and Knighthead Capital Management LLC (via CK Opportunities) agreed to provide a $500 million facility — $400 million term loan plus a $100 million liquidity facility from Delta — to Wheels Up to support the company’s business transformation. As part of the recapitalization, Wheels Up will issue Class A common stock to participating lenders (who are expected to own ~95% post-transaction) to stabilize operations and accelerate the company’s path to profitability.

Alba Wheels Up, a Southfield Capital–backed logistics platform based in Valley Stream, New York, has acquired V.T. Mancusi, Inc., a Lawrence, New York customs brokerage and trade compliance specialist focused on the flavors & fragrances and related end markets. The acquisition strengthens Alba's customs brokerage, trade compliance and foreign trade zone (FTZ) capabilities as the V.T. Mancusi team joins Alba's Valley Stream headquarters.

Icon Parking was acquired in a management buyout led by President & CEO John D. Smith alongside Arkview Capital, creating one of the largest minority-owned parking and mobility operators in the U.S. The new ownership plans to expand Icon’s footprint nationally from its nearly 200 locations, accelerate EV charging deployment across its garages, and broaden its services into integrated facilities offerings.

An investor group led by funds managed by affiliates of Apollo, together with J.F. Lehman & Company and Hill City Capital, acquired Atlas Air Worldwide for an enterprise value of approximately $5.2 billion, paying $102.50 per share in cash. Atlas Air Worldwide will become privately held and continue operating under its existing leadership to accelerate execution of its strategic plan and capitalize on long-term demand for global air cargo services.

EFL Global has acquired Trans American Customhouse Brokers, Inc., a U.S.-based customs brokerage and logistics firm founded in 1984. The deal adds customs brokerage, clearance and consulting capabilities (including licensed brokers and digital clearance tools) to EFL's global supply chain offering and expands its integrated customs services across the U.S., Canada and Mexico.

Livonia, Avon & Lakeville Railroad Corporation (LA&L) acquired control of Ontario Midland Railroad Corp. (OMID) by purchasing 55% of its stock on September 16, 2022, subject to Surface Transportation Board authorization. The purchase adds roughly 52 miles of track in Wayne and Monroe counties, New York, expanding LA&L's short-line network and integrating OMID's customer base and transload capabilities; terms were not disclosed and the sellers were previous owners Sandra and Paul Saracen.

Premium Parking has acquired Buffalo-based Allpro Parking LLC, integrating Allpro’s operational footprint into Premium’s full‑stack parking technology and management platform. The deal adds 130 Allpro locations across three states, expands Premium’s Midwest and Northeast presence, and supports broader deployment of Premium’s camera‑based payments, cloud permits and subscription parking solutions.

Veho, a technology-driven next-day delivery platform, has acquired QuikReturn, a New York City reverse logistics startup that offers doorstep package pickups and proprietary return software. The acquisition expands Veho's returns product offering and accelerates geographic expansion of doorstep returns across major U.S. metro markets.

LLR Partners provided a $70 million growth investment in Vehicle Tracking Solutions (VTS) to accelerate product innovation and expansion for its IntelliShift division. The capital will support IntelliShift's cloud-based fleet and safety management platform, including AI video telematics, and fund North American expansion and customer experience initiatives.

Southfield Capital has partnered with Alba Wheels Up, a Valley Stream, New York-based customs brokerage and freight forwarding firm, in the firm's first platform investment from Southfield Capital III LP. The transaction will support Alba's growth initiatives—expanding service offerings, entering new markets, and strengthening its technology and trade compliance capabilities, while founders Salvatore and Damien Stile remain in leadership roles.

Funds managed by Oaktree Capital Management’s Transportation Infrastructure Investing Group agreed to acquire a significant minority stake in Rand Logistics from American Industrial Partners. The partnership pairs Oaktree’s transportation infrastructure expertise with AIP’s operational approach to support Rand’s growth across the Great Lakes bulk-freight network.

BBH Capital Partners completed a minority equity investment in Clever Devices Ltd., partnering with the existing management team and shareholder group while leaving the current management structure in place. The investment will accelerate Clever Devices' R&D and global expansion efforts; BBHCP's Brad Langer and Rusty Lewis joined the company's board of directors.

Rand Logistics, a portfolio company of American Industrial Partners, has completed the acquisition of American Steamship Company from GATX Corporation. The deal combines ASC's self-unloading Great Lakes fleet with Rand's operations to create a larger, more flexible dry-bulk shipping platform across the Great Lakes.

LongueVue Capital made a growth capital investment in Select Express & Logistics, a New York–headquartered provider of last-mile, white-glove delivery and assembly services. LVC partnered with Select Express's existing management team (which remains a significant shareholder) to support the company’s continued national expansion and capability build-out across retail, e-commerce and other end markets.