acquisition

Private equity firm Stonepeak Infrastructure Partners, which is based in New York City, has signed an agreement to acquire TRAC Intermodal from a Fortress Investment Group affiliate. Financial terms for the agreement, which is subject to customary closing conditions and regulatory approvals, were...

A.P. Møller – Maersk said Wednesday it had agreed to buy U.S. warehousing and distribution firm Performance Team in a $545 million deal. The Danish shipping giant said the total includes about $225 million in lease liabilities. The acquisition is subject to regulatory approval and the transaction...

Alabama Motor Express will push deeper into the refrigerated business with purchase of Powell Transport Solutions. The acquisition, announced earlier this week, will bring 35 refrigerated trailers to AMX, the company said in a statement. A spokeswoman for AMX, in response to questions submitted by...

PAM Transportation CEO Daniel H. Cushman told FreightWaves during an interview Tuesday that his company's trucking service to Mexico is "busting at the seams." "It is just a month into the year, but we are already 26% over where we were last year, so we are growing at a rapid pace," Cushman said...

Third-party logistics and multimodal transportation services provider Radiant Logistics Inc. (NYSE: RLGT) sees freight market trends that were positive on a year-over-year basis in December. However, the quarter as a whole came in 25% below the mark set in the year-ago period. The Bellevue,...

Etihad Airways is selling two of its widebody fleets in a $1 billion transaction as it struggles to return to profitability. Investment firm KKR and Altavair AirFinance, which specializes in commercial aviation finance, will acquire Etihad's owned fleet of Boeing 777-300ERs and its Airbus A330-...

C.A.T.  acquired Penner International on Monday in a bold acquisition that expands the cross-border carrier's footprint in western Canada and increases its fleet by about 50%.  C.A.T. aims to ramp up its east-west moves in Canada with the addition of the Manitoba-based truckload carrier. The...

Short line operator Regional Rail will be acquiring Carolina Coastal Railway, a 180-mile freight rail line located primarily in North Carolina. The acquisition, announced Monday by Regional Rail's parent company 3i, a U.K.-based private equity firm, is subject to approval by the Surface...

Volkswagen's TRATON SE truck unit late Thursday offered $2.9 billion, or $35 a share in cash, for the 83% of Navistar International Corp. (NYSE: NAV) it does not already own. The news, first reported by Bloomberg, broke after U.S. markets closed. After-hours trading in Navistar, which makes...

Propulsion systems supplier BorgWarner Inc. (NYSE: BWA) will purchase 84% of Delphi Technologies (NYSE: DLPH) in a $3.3 billion all-stock deal that shook the automotive supply sector Tuesday. The announcement sent Delphi shares soaring 61.95% to $15.86 in New York Stock Exchange trading....

The weaker operating environment provided Heartland Express Inc. (NASDAQ: HTLD) an opportunity to acquire a $150 million peer. However, that company, Millis Transfer, which operated at a 90%-plus operating ratio (OR) prior to the deal, weighed on Heartland Express' fourth-quarter 2019 results. The...

Mark-It Express Logistics founder and President Tony Apa has a vision for his 12-year-old company – to become a national name. The Chicagoland business is taking steps in that direction with the acquisition of Spirit Trucking Company, also based in Chicago. "The acquisition definitely takes us to...

Parkland Fuel Corp. (TSX: PKI), a Canadian fuel distributor and seller, will acquire Kellerstrass Oil, growing its retail and commercial footprint and tanker fleet in the United States. Alberta-based Parkland announced the deal to buy Salt Lake City's Kellerstrass on Thursday without disclosing...

Nolan Transportation Group (NTG), the Atlanta-based freight brokerage and logistics provider, announced Friday that it had completed the acquisition of freight brokerage Eagle Transportation. Eagle, based in Hattiesburg, Mississippi, posted revenues just shy of $100 million in 2018, according to...

Meritor Inc. (NYSE: MTOR) is buying the rest of electric systems supplier Transportation Power Inc. that it did not already own, planning to offer integrated electric powertrains for medium- and heavy-duty trucks. The move was surprising only for its timing. Meritor executives hinted in 2019 that...