Trucking & Fleet Acquisitions in Michigan

Boxwheel Trailer Leasing, a Denver-based trailer rental and leasing operator backed by Crosstimbers Capital Group, acquired the assets of Detroit-area Twin Bridges Enterprises. The asset purchase expands Boxwheel’s geographic coverage in the Detroit market as part of its ongoing acquisitive growth strategy supported by Crosstimbers and lenders.

Penske Truck Leasing agreed to acquire Star Truck Rentals, Inc., a Michigan-based transportation services company that offers full-service leasing, commercial truck rental, contract maintenance and used truck sales. The acquisition adds Star’s ~1,900 vehicles and 18 locations across Michigan and Indiana to Penske’s network; financial terms were not disclosed and the transaction was expected to close in Q2 2023 subject to customary approvals.

The investment arms of the Nottawaseppi Huron Band of the Potawatomi (Waséyabek Development Company) and the Match-E-Be-Nash-She-Wish Band of Pottawatomi (Gun Lake Investments) have acquired Holland, Michigan-based trucking companies Zip Xpress, Inc. and Green Transportation, Inc. DWH, LLC is managing the partnership; the tribes said the deal supports freight optimization, sustainable solutions and career development (including a driver training pipeline).

Safe Fleet Holdings, LLC, a portfolio company of Oak Hill Capital Partners, has acquired Roll-Rite Holdings Group LLC, a Gladwin, Michigan-based manufacturer of automated and semi-automated tarping systems. Roll-Rite was a portfolio company of Capital Partners and Argosy Private Equity; the deal expands Safe Fleet's product capabilities and presence in construction, agriculture and recycling end-markets.