A national record of lower middle market ownership transitions, the verified independent sponsors that have bought companies like them, and the capital observed financing those deals. Facts, inferences and estimates are labelled as such, with the source and the date, on every row.

Sector

Transportation and logistics

107 confirmed transactions read in this sector, 15 of them in the last twelve months, from 75 named buyers. 6 capital providers are named on those deals. The company universe behind it is 4,687 privately held employers.

Latest deal Aug 27, 2026
5 verified independent sponsors · 4 deals with the capital named
Who is consolidating this sector
  1. 5Kenan Advantage Groupoperating company or platform2024 to 2025
  2. 4PS Logistics, LLCoperating company or platform2021 to 2024
  3. 3Trimac Transportationoperating company or platform2023 to 2026 · 1 in 12 months
  4. 3Expedition Capital Partnersverified independent sponsor2020 to 2025

Deals DFX has read in this sector only. A buyer active in several sectors counts once here per sector, and its own page carries the whole chronology with the announcement behind each row.

What closed here, and who paid for it
  1. Aug 27, 2026Strategic acquisitionconfidence 70%
    Behnke Dedicated & Logistics acquired AG Freight (Piedmont, SC)
    Behnke Dedicated & Logistics of Battle Creek, Michigan bought Piedmont, South Carolina-based AG Freight, giving the company a real foothold in the Southeast.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  2. Aug 18, 2026Strategic acquisitionconfidence 70%
    RoadOne IntermodaLogistics acquired Higgins Transport Service (Charleston, SC)
    RoadOne IntermodaLogistics acquired Higgins Transport Service, a Charleston port drayage and intermodal provider, adding 15 drivers to its Charleston operations.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  3. Aug 5, 2026Majority investmentconfidence 90%
    Collaborative Capital Management acquired Reliable Towing Holdings Ltd.
    Access Holdings · Capital providerMcGuireWoods LLP · Counsel
    Access partnered with Paul Parhar, Founder of Collaborative Capital Management, who has more than two decades of experience and previously invested in Reliable Towing.
    DFX analyst research (General-assisted, every claim URL-cited) prnewswire.com
  4. Aug 4, 2026Strategic acquisitionconfidence 70%
    Trimac Transportation acquired California Freight (CA)
    Trimac acquired California Freight, a food-grade bulk carrier with 452 power units and 501 drivers, which will retain its name and operate as part of Trimac.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  5. Jun 24, 2026Strategic acquisitionconfidence 70%
    Imperative Logistics Group LLC acquired Jose D. Gonzalez, CHB (Laredo, TX)
    Imperative Logistics Group acquired Laredo-based customs broker Jose D. Gonzalez, CHB, significantly expanding its customs brokerage and cross-border capabilities.
    DFX analyst research (General-assisted, every claim URL-cited) freightwaves.com
  6. Jun 24, 2026Strategic acquisitionconfidence 70%
    AmeriLux Transportation & Logistics acquired Dedicated Systems, Inc. (Green Bay, WI)
    AmeriLux acquired Green Bay-based Dedicated Systems, a family-owned carrier specializing in nationwide transportation and over-dimensional freight hauling founded in 1991.
    DFX analyst research (General-assisted, every claim URL-cited) freightwaves.com
  7. Apr 28, 2026Recapitalizationconfidence 90%
    Main Street Capital Corporation recapitalised Shift Transit, LLC (Chicago, IL)
    Main Street partnered with Shift Transit's founders and existing owners to facilitate a $40.0 million minority recapitalization combining first lien senior secured term debt and a direct minority equity investment.
    DFX analyst research (General-assisted, every claim URL-cited) mainstcapital.com
  8. Apr 13, 2026Strategic acquisitionconfidence 70%
    TA Dedicated (TFI International) acquired Triangle Warehouse, Inc. (Minneapolis, MN)
    TA Dedicated, a TFI International subsidiary, agreed to acquire Minneapolis-based Triangle Warehouse, which operates about 150 power units and 900,000 square feet of warehouse space.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  9. Mar 4, 2026Strategic acquisitionconfidence 70%
    Ace Doran (Bennett Family of Companies) acquired NHH Services (IN)
    Ace Doran purchased the equipment and staff of Indiana-based NHH Services, about 50 trucks plus drivers and office personnel, to create a new heavy haul division.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  10. Feb 23, 2026Mergerconfidence 90%
    Diverse Logistics acquired Pulse Final Mile, LLC (Anaheim, CA)
    Ironwood Capital announces investment in Diverse Logistics to support its combination with Pulse Final Mile under Argosy Private Equity.
    DFX analyst research (General-assisted, every claim URL-cited) myemail.constantcontact.com
  11. Feb 17, 2026Strategic acquisitionconfidence 70%
    Estes Logistics (Estes Express Lines) acquired KEY Trucking, Inc. (Seattle, WA)
    Estes Logistics acquired Kent, Washington-based Key Trucking as of January 1, 2026, adding Pacific Northwest capacity and a strategic gateway to Alaska.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  12. Jan 20, 2026Platform acquisitionconfidence 90%
    Tailwind Capital acquired Valor Fleet Services (Leesburg, VA)
    Stellus provided senior debt financing and an equity co-investment to support Tailwind Capital's investment in Leesburg, Virginia-based Valor Fleet Services.
    DFX analyst research (General-assisted, every claim URL-cited) stelluscapital.com
  13. Jan 8, 2026Platform acquisitionconfidence 70%
    Avkha Equity Holdings acquired Dart Transit (Eagan, MN)
    Avkha Equity Holdings acquired Minnesota-based carrier Dart Transit, ending more than nine decades of ownership by the Oren family, effective January 1, 2026.
    DFX analyst research (General-assisted, every claim URL-cited) finance.yahoo.com
  14. Dec 9, 2025Strategic acquisitionconfidence 70%
    PGT Trucking, Inc. acquired Debrick Truck Line Co. (Paola, KS)
    PGT Trucking acquired second-generation Debrick Truck Line Co. of Paola, Kansas, bringing PGT's terminal network to 35 locations in the U.S. and Mexico.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  15. Nov 18, 2025Mergerconfidence 70%
    Page Trucking acquired Goulet Trucking, Inc. (South Deerfield, MA)
    Page Trucking of Weedsport, New York agreed to acquire Goulet Trucking, with the merged companies to form Page G.T.C., one of the largest specialized bulk transporters in North America, closing expected in Q1 2026.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  16. Sep 1, 2025Add onconfidence 90%
    Expedition Capital Partners acquired Dillon Transportation, LLC (Ashland City, TN)
    Bengur Bryan · Advisor
    Bengur Bryan Advises Dillon Transportation, LLC in its Sale to TFA Logistics, a portfolio company of Expedition Capital Partners.
    DFX analyst research (General-assisted, every claim URL-cited) bengurbryan.com
  17. Jun 15, 2025Platform acquisitionconfidence 85%
    KDSA Investment Partners acquired Williams Distributors LLC (Spokane Valley, WA)
    Greyrock Capital Group · Lender
    Greyrock Fund VI provided junior capital to support the acquisition of Williams Distributors by KDSA Investment Partners.
    DFX analyst research (General-assisted, every claim URL-cited) greyrockcapitalgroup.com
  18. May 9, 2025Platform acquisitionconfidence 70%
    Trivest Partners acquired Cline Tours Inc. (Ridgeland, MS)
    Trivest Partners concurrently acquired Mississippi-based Cline Tours, a 290-employee motorcoach operator founded in 1996, alongside Roadrunner Charters.
    DFX analyst research (General-assisted, every claim URL-cited) busandmotorcoachnews.com
  19. Mar 31, 2025Add onconfidence 70%
    Kenan Advantage Group acquired M.C. Tank Transport, Inc. (West Chester, OH)
    Kenan Advantage Group acquired West Chester, Ohio-based M.C. Tank Transport, a liquid bulk chemical carrier with 175 drivers and 100 tractors across eight terminals.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  20. Mar 20, 2025Strategic acquisitionconfidence 70%
    Kreilkamp Trucking Inc. acquired Gray Transportation (Waterloo, IA)
    Kreilkamp Trucking acquired select assets from Waterloo, Iowa-based Gray Transportation, including trailers, freight contracts and drivers, as the 40-year-old carrier ceased operations.
    DFX analyst research (General-assisted, every claim URL-cited) freightwaves.com
  21. Mar 6, 2025Add onconfidence 70%
    Kenan Advantage Group acquired Evergreen Transport LLC (Mobile, AL)
    Kenan Advantage Group acquired Mobile, Alabama-based Evergreen Transport, a dry bulk carrier with 100 drivers and 158 tractors, its fourth dry bulk acquisition since entering the market in February 2024.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  22. Jan 13, 2025Add onconfidence 70%
    AIT Worldwide Logistics acquired Krupp Trucking, LLC (Earth City, MO)
    AIT Worldwide Logistics acquired St. Louis-based Krupp Trucking, which specializes in hauling computer equipment and electronics with a fleet of more than 60 trucks and about 100 employees.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  23. Dec 10, 2024Strategic acquisitionconfidence 70%
    Timberland Transportation LLC acquired NOW Courier, Inc. (Indianapolis, IN)
    Priority Courier Experts acquired NOW Courier of Indianapolis, a 38-year-old family business owned by the Schwalbach family.
    DFX analyst research (General-assisted, every claim URL-cited) nwindianabusiness.com
  24. Nov 24, 2024Add onconfidence 70%
    Kenan Advantage Group acquired XBL Holdings (Weatherford, TX)
    Kenan Advantage Group acquired XBL Holdings of Weatherford, Texas from Lilium Group, a dry bulk carrier with 162 drivers, 186 tractors and 356 trailers across 11 sites.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com
  25. Nov 22, 2024Add onconfidence 70%
    Kenan Advantage Group acquired PRM Trucking Inc (White Pigeon, MI)
    Kenan Advantage Group acquired White Pigeon, Michigan-based PRM Trucking, a dry bulk hauler with 33 drivers, 39 tractors and 91 trailers.
    DFX analyst research (General-assisted, every claim URL-cited) truckingdive.com

The names under each deal are the parties the announcement itself printed, in the role it gave them. Most announcements name the buyer and not the lenders, which is why 4 of 107 deals here carry capital.

Independent sponsors buying here

Firms that cleared the verified-sponsor evidence and bought a company in this sector, most recent first.

Other buyers on these deals

Funds, strategics, holding companies and firms DFX has not verified as independent sponsors. They are named because an announcement named them as the buyer.

The capital that shows up here

Lenders and equity providers named beside a sponsor on a deal in this sector, by deals read.

Email me when transportation and logistics changes
No password, no account. One line per change, with the source.
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