Transportation Acquisitions in Ohio

Student Transportation of America (STA) has acquired Universal Transportation Systems (UTS), a leading independent student transportation provider in Ohio. Northborne Partners served as exclusive financial advisor to UTS; financial terms were not disclosed. UTS operates more than 350 buses and vans and employs over 350 staff across terminals in the Cincinnati and Columbus metropolitan areas.

JustPark has acquired Oobeo, a Toledo-based startup that provides valet, permit management, and contactless parking payment software, as part of its North American growth strategy. The deal brings Oobeo’s mobile-first platform (serving over 6 million users) and CEO Mitch Carter into JustPark to expand product capabilities and accelerate U.S. expansion across municipalities, venues, and real estate operators.

Flexjet closed an $800 million equity investment led by consumer-focused private equity firm L Catterton, with participation from affiliates of KSL Capital Partners and the J. Safra Group. The capital will support fleet modernization, expansion of private terminals and in-house maintenance capabilities, and broader luxury service enhancements while management and existing shareholders remain in control.

Propark Mobility, a national parking management company based in Hartford, Connecticut, has acquired VIP Valet, a Cleveland-based provider of valet parking services. The acquisition expands Propark’s presence in the Midwest and brings VIP Valet’s hospitality- and healthcare-focused valet capabilities into Propark’s national platform.

The Service Company, a Covington, Ohio-based truck and trailer repair and fleet services provider, acquired Foster's Truck & Trailer of Columbus, Ohio. The transaction closed March 10, 2025 and was advised by Generational Group; the acquisition expands The Service Company's service footprint and capabilities in the Columbus market.

Stonepeak has completed an all-cash acquisition of Air Transport Services Group, Inc. (ATSG) in a transaction valuing the company at approximately $3.1 billion and providing ATSG shareholders $22.50 per share. The deal, first announced on November 4, 2024, received shareholder approval on February 10, 2025, and takes ATSG private under Stonepeak to support the company’s long-term growth in aircraft leasing, air transport operations, and support services.

Load One has acquired Tri-State Expedited Service, a Millbury, Ohio-based provider of expedited ground transportation and logistics, to expand its North American expedited network and capacity. Terms were not disclosed; the deal brings Tri-State's company trucks and owner-operator network into Load One's platform to better serve time-critical, cross-border and high-value freight.

FST Logistics, a 100% employee-owned third-party logistics company headquartered in Dublin, Ohio, has acquired Delphos-based Dancer Logistics. The deal expands FST's Midwest footprint and strengthens its warehousing and temperature-controlled transportation capabilities.

Flexjet has acquired Constant Aviation, an aircraft maintenance, repair and overhaul (MRO) provider, and will integrate Constant's facilities and AOG mobile response network into its operations. The acquisition expands Flexjet's in-house maintenance capabilities and footprint (including Cleveland and Orlando facilities), supports fleet growth and adds rotorcraft and UAS MRO capabilities.

The Kenan Advantage Group (KAG) has completed the acquisition of K-Limited Carrier, Ltd., a Toledo, Ohio-based liquid bulk transporter of chemical products. Approximately 100 operational employees and a fleet of about 95 tractors and 195 trailers plus terminal and satellite locations in multiple Midwestern cities will join KAG to expand its Specialty Products division and chemical logistics footprint.

Mahansaria Tyres Private Limited (MTPL), an India-based off-highway tire manufacturer (owner of the Ascenso brand), acquired a majority stake in Tyres International, a Stow, Ohio-based tire importer and wholesale distributor. The deal establishes MTPL’s distribution foothold in North America so Tyres International will distribute Ascenso products in the U.S. while continuing to distribute Westlake truck tires and Sunrise truck wheels.

EQT Infrastructure has completed the acquisition of First Student and First Transit, two North American subsidiaries of FirstGroup plc, for USD 4.6 billion. EQT said it will invest in organizational, operational and digital technology initiatives and accelerate fleet electrification and transition to renewable fuels to improve service and reduce environmental impact.

Jaguar Transport Holdings acquired Marion Industrial Center, a rail-centric logistics services company headquartered in Marion, Ohio, on October 30, 2020. The acquisition adds 1.55 million square feet of distribution facilities, extensive rail infrastructure and transloading/3PL capabilities to Jaguar's portfolio and will be rebranded Marion Industrial Rail Park to emphasize rail-focused operations and development.

Wind Point Partners' portfolio company A&R Logistics has acquired L.T. Harnett (LTH), a provider of bulk liquid transportation and logistics services to the chemical industry. The acquisition expands A&R's liquid chemical capabilities and geographic coverage in the Midwest and Ohio Valley, brings LTH's leadership into A&R, and makes the Harnett family a major independent investor in the combined business.

Affiliates of Dallas-based private equity manager Paceline Equity Partners have acquired R.E.L.A.M., Inc. along with affiliated businesses Acme Construction Co., Inc. and Timiny RR Construction, Inc. The assets will be combined with Paceline's existing platform 1435 Rail, creating a larger rail maintenance-of-way equipment lessor and services business with a diversified fleet and expanded service offerings.

ACV Auctions Inc. has acquired ASI, a Cincinnati‑based provider of off‑lease, off‑rental, fleet and OEM vehicle inspection and audit services, bringing more than 300 field inspectors and office staff into ACV. The deal expands ACV's nationwide inspection footprint and allows ACV to offer its inspection technologies (e.g., Virtual Lift, AMP) to ASI customers; ASI previously operated as part of SGS Transportation Services in the United States.

Brixey & Meyer Capital (BMC) has acquired Gateway Distribution, a Cincinnati-based niche LTL carrier and consolidator focused on specialty cargo such as light poles and flag poles. The acquisition expands BMC's transportation portfolio within its Growth Fund II and keeps Gateway's existing management team in place to continue operations from its Cincinnati headquarters.

Descartes Systems Group acquired BestTransport.com, Inc., a Columbus, Ohio–based cloud transportation management system (TMS) provider focused on flatbed-intensive manufacturers and distributors. The acquisition (approximately US$11.2 million, net of working capital) expands Descartes' transportation management footprint and adds BestTransport's flatbed-focused TMS capabilities to Descartes' Global Logistics Network.