Mergers and Acquisitions

Private firm strikes $262M deal for 25-building logistics portfolio in South Florida

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Longpoint has acquired a cluster of industrial-logistics properties totaling 1.4 million square feet...

https://www.freightwaves.com/news/private-firm-strikes-262m-deal-for-25-building-logistics-portfolio-in-south-florida

CN acquiring Iowa Northern Railway

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Canadian railway CN plans to acquire Iowa Northern Railway (IANR) a short-line railroad that...

https://www.freightwaves.com/news/cn-acquiring-iowa-northern-railway

Canada Cartage moving into US through GTI Group acquisition

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Canada Cartage is expanding into the U.S. with the strategic acquisition of The GTI Group, a...

https://www.freightwaves.com/news/canada-cartage-moving-into-us-through-gti-group-acquisition

Bestpass acquires compliance platform Fleetworthy Solutions

Bestpass announced Tuesday that it has acquired truck safety and risk management platform Fleetworthy Solutions, intending to create a one-stop shop for truck toll payments, compliance and safety needs. 

Albany, New York-based Bestpass is a technology company that provides toll management services to more than 30,000 owner-operators and commercial fleet customers. The company, founded in 2001, processes over $1.5 billion in toll transactions annually, according to a news release.

“We know fleet...

https://www.freightwaves.com/news/bestpass-acquires-compliance-platform-fleetworthy-solutions

Fairbanks Morse Defense acquires American Fan

Axial fan from American Fan

Continuing to solidify its position as an integrated defense contractor and provider to the U.S. Navy, Military Sealift Command and the Coast Guard, Fairbanks Morse Defense (FMD) has now acquired American Fan.

A specialist in axial and centrifugal fan technology, Fairfield, Ohio, based American Fan’s products and services are currently specified in 30 U.S. Navy shipbuilding programs. They are used in a broad range of onboard air-moving applications, from compartment ventilation to gas turbine...

https://www.marinelog.com/news/fairbanks-morse-defense-acquires-american-fan/

Is Philly Shipyard a Hanwha takeover target?

Back in July, Korean shipbuilder Hanwha Ocean was reportedly among the suitors in a rumored bid to acquire Austal. As we reported at that time, Austal said:

“Austal is regularly involved in discussions with potential parties concerning strategic initiatives to create value for its shareholders. While discussions may take place from time to time, there can be no certainty that any opportunity will proceed … Austal will keep shareholders informed in accordance with its continuous disclosure...

https://www.marinelog.com/shipbuilding/shipyards/shipyard-news/is-philly-shipyard-a-hanwha-takeover-target/

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