Dart Transit Group Sold After 90 Years of Family Ownership
Private Equity Firm Avkha Equity Holdings Acquires Minnesota Carrier
Key Takeaways:
- Avkha Equity Holdings acquired Dart Transit Group effective Jan. 1, ending more than 90 years of Oren family ownership, the carrier announced Jan. 8.
- Don Oren retired, David Oren remains president of Dart Express, Mike DelBovo stays president of Dart Transit Group and Tom Witt joined as CEO.
- The buyer said operations and branding will not change and plans investment to expand services, including new lanes, intermodal offerings, dedicated fleets and logistics management.
[Stay on top of transportation news: .]
Dart Transit Group has been acquired by a private equity group after more than 90 years of private ownership by the Oren family, .
Avkha Equity Holdings, a San Francisco-based private investment firm, purchased Dart Express and its subsidiaries effective Jan. 1. Eagan, Minn.-based Dart announced the deal Jan. 8.
Don Oren — the son of founder Earl Oren — has retired following the sale, but his son David Oren will remain president of Dart Express. Mike DelBovo will continue as president of Dart Transit Group. Tom Witt has joined the organization as CEO.
Avkha Equity Holdings maintains a diversified portfolio of businesses throughout the United States and has a long-term interest in the transportation and logistics industry. The firm said it views Dart as a strong operational platform and plans to expand Dart Transit Group through additional investment.
Don Oren said he “could not think of a better outcome” in discussing the sale.
The acquisition does not change Dart’s day-to-day operations. The Dart name and operating entities remain unchanged, and drivers, customers, leadership and staff will remain in place. All facilities and operating locations will continue as normal.
Dart said it remains committed to its customers and business partners and will continue existing relationships while discussing opportunities to expand services, including additional lanes, intermodal solutions, dedicated fleet operations and logistics management.
Generative AI assisted in the creation of this article.
Want more news? Listen to today's daily briefing belowor go here for more info:
