Carlyle acquires stake in ITS Technologies & Logistics
The Carlyle Group has acquired a majority interest in ITS Technologies & Logistics LLC, an intermodal facilities operator, from Lanigan Holdings LLC.
ITS is one of the largest operators of intermodal facilities in North America, where it transfers containers between trucks and rail cars and performs rail switching, terminal administration and equipment maintenance.
ITS operates in 52 U.S. locations and three locations in Mexico. It employs more than 1,600 people and performs about 5 million lifts annually.
Under terms of the acquisition agreement, the Lanigan Family will retain a significant minority equity interest. Financial terms were not disclosed.
Carlyle’s investment was made by Carlyle Infrastructure Partners, a $1.14 billion fund that invests primarily in transportation and water infrastructure projects in the U.S. and Canada.