M&A News
SearchMergers, acquisitions, disposals or related corporate transactions in relevant markets.
DYWIDAG acquires Interspan to expand its Australian engineering capabilities
DYWIDAG acquired Australian engineering company Interspan, adding post-tensioning, concrete inspection and repair capabilities. The deal supports growth in Australia, including investment in its Newcastle facility and opportunities in infrastructure and wind energy.
Tesla and SpaceX merger prospect dominates post-earnings discussion
Elon Musk said Tesla and SpaceX have formed committees to explore a merger, but gave no timetable. The prospect has raised questions about shareholder approval, control and regulatory scrutiny in the US and China.
Tesla earnings due after Musk backs possible SpaceX merger
Tesla is due to report earnings after Elon Musk called a merger with SpaceX a good idea and said special committees at both companies are discussing a tie-up. Investors are also seeking updates on Tesla’s spending, driver-assistance software and robotaxi plans.
SG Fleet agrees to acquire FleetPartners for $1.13bn
SG Fleet has agreed to acquire FleetPartners for about $1.13bn, subject to shareholder, court and regulatory approvals. The combined business would manage more than 320,000 vehicles across Australia and New Zealand.
Nokia agrees to sell Enterprise Campus Edge unit to Aurelius
Nokia has agreed to sell its Enterprise Campus Edge business, which serves nearly 900 private-network customers, to private equity firm Aurelius. The deal includes its campus network, edge-computing, device and software portfolios and is expected to close in the first half of 2027, subject to approvals.
Arrive completes acquisition of Passport
Arrive has completed its acquisition of Passport, whose parking payment and compliance platform serves more than 800 North American cities and operators. The companies plan to combine it with Arrive’s network to build a platform for kerbside management and urban mobility.
Nayax completes $350m acquisition of IPS Group
Nayax has completed its all-cash acquisition of smart parking technology provider IPS Group for $350m. IPS manages more than 250,000 parking spaces across the US, Canada, the UK and Ireland; Nayax plans to combine its payments infrastructure with IPS’s parking and kerbside EV-charging platform.
APCOA acquires UK Parking Patrol
APCOA has acquired UK parking enforcement company UK Parking Patrol, which will continue as a stand-alone business within APCOA UK. The deal adds to APCOA’s parking management and technology offer; financial terms were not disclosed.
Ampol to acquire Australian EV charging network Evie for $225 million
Ampol has agreed to buy Evie Networks for $225 million, adding more than 1,030 charging bays across 400 sites to its Australian network. The deal is subject to regulatory approval.
GAC plans to acquire FAW’s stake in FAW Toyota joint venture
GAC plans to acquire China FAW Group’s 50% stake in FAW Toyota, replacing FAW in the joint venture. The move is intended to streamline Toyota’s China operations and coordinate research, supply chains and marketing.
Geely and Nio agree battery-swapping and charging partnership
Geely will take a 30% stake in Nio Power, while Nio will acquire 10% of Geely’s charging subsidiary. The companies will develop shared battery-swapping standards, compatible EVs and interconnected charging resources in China.
FleetGO joins Aptean to expand European logistics software operations
FleetGO, a European provider of fleet, transport and warehouse-management software, has joined Aptean. The deal is intended to provide additional scale and resources for product innovation and international growth while maintaining FleetGO’s customer and product commitments.
FAW advances proposed stake acquisition in GAC Group
China’s FAW Group is reportedly advancing plans to acquire a stake in GAC Group, potentially creating a new state-owned automotive joint venture. The move follows regulatory calls for consolidation as both automakers face falling sales and financial pressure.
FleetPartners takeover contest narrows to SG Fleet, ORIX and Sumitomo
SG Fleet, ORIX and the Sumitomo Consortium have submitted higher indicative offers for Australian fleet manager FleetPartners, while Element Fleet Management withdrew. The three remaining bidders will enter a further due-diligence phase.
Copart agrees $1.9bn acquisition of vehicle marketplace ACV
Copart has agreed to acquire digital wholesale vehicle marketplace ACV for approximately $1.9bn in cash. The deal would expand Copart into dealer-to-dealer remarketing and add ACV’s inspection, valuation and vehicle-data technology, subject to regulatory approval.
Holman takes full ownership of Mexico fleet-management business ARIZA
Holman has acquired Corporacion Zapata’s 50% stake in ARIZA, its former Mexican joint venture, bringing the 30-year fleet-leasing and management business fully under the Holman brand and expanding cross-border services for North American fleets.
Lean Solutions Group acquires SupportZebra to expand AI-enabled outsourcing
Lean Solutions Group has acquired SupportZebra, adding more than 1,300 employees and expanding its Philippine operations. The deal brings outsourced support capabilities and customers onto LSG’s LeanTek AI and workflow-automation platform, supporting growth beyond logistics.
Trimble acquires Terasat Japan to expand precision positioning services
Trimble has acquired Japanese VRS provider Terasat Japan, giving it direct access to the country’s GNSS correction network and expanding centimetre-level positioning services for automotive, construction and other applications.
PlusAI targets 2027 autonomous truck launch with up to $300m SPAC funding
PlusAI has agreed to merge with Texas Ventures Acquisition III in a deal that could provide up to $300m for its Level 4 autonomous heavy-truck programme. The funding is intended to support OEM integration and a factory-built truck launch targeted for 2027.
GI Partners acquires majority stake in vehicle-tracking firm Otodata
GI Partners has acquired a majority interest in Montreal-based Otodata, while Renovo Capital and management retain minority stakes. Otodata provides remote monitoring and vehicle-tracking solutions, including theft prevention and stolen-vehicle recovery through Tag Tracking.
Nayax agrees $350m acquisition of smart parking provider IPS Group
Nayax will acquire IPS Group from Windjammer Capital Investors for $350m, combining payments infrastructure with smart parking hardware and software. IPS serves more than 250,000 spaces across the US, UK, Ireland and Canada, with completion expected in Q4 2026.
Porsche signs $1.5bn AI deal and agrees to sell MHP to TCS
Porsche has signed a five-year, €1.25bn AI contract with Tata Consultancy Services, which will acquire Porsche’s IT consultancy MHP for €320m. The deal aims to scale AI across Porsche while supporting its German-market and profitability strategy.
CATL to become China’s largest heavy-truck battery-swapping operator
CATL has agreed to acquire a 24.8726% stake in Qiyuan Green Power, China’s largest heavy-duty truck battery-swapping network, for 2.56 billion yuan. The deal will combine Qiyuan’s rear-mounted system with CATL’s chassis-based Qiji technology and network expansion plans.
Quarterhill reports stronger Q2 and advances $70m Conduent tolling deal
Quarterhill reported improved Q2 profitability and agreed to acquire Conduent’s tolling solutions business for $70m plus shares. The deal, due to close in Q4 2026, is expected to nearly triple tolling revenue, while new US and Asia-Pacific contracts support organic growth.
FleetPartners’ transformation makes it a takeover target
FleetPartners has emerged from years of simplification and technology investment as a focused fleet-management and leasing business, attracting takeover proposals from SG Fleet, Element Fleet Management and ORIX.
ORIX joins SG Fleet and Element in FleetPartners takeover contest
ORIX has entered the bidding for Australian and New Zealand fleet manager FleetPartners with a conditional A$3.80-a-share offer. Its move follows competing proposals from Element Fleet Management and an increased A$4.00 offer from SG Fleet.
Element enters FleetPartners takeover battle with A$4.00-a-share option
FleetPartners has rejected SG Fleet’s A$3.60-a-share takeover proposal, while Element Fleet Management has offered A$3.80 and indicated it could raise to A$4.00. The competing bids could trigger a wider fleet-management bidding battle.
Trimac acquires California Freight to expand US bulk transport operations
Trimac Transportation has acquired California Freight, adding food-grade bulk trucking, warehousing and brokerage operations across California and Nevada to its US business.
Dohrn rebrands after completing Midwest LTL network overhaul
Dohrn has completed a multi-year network overhaul and rebranded after integrating Sutton Transport and US Special Delivery. The Midwest LTL carrier now operates 24 terminals, with reported on-time service at 97% and exception-free deliveries at 99%.
Hunter Truck acquires two dealership groups and adds 10 US locations
Hunter Truck has acquired Dimmick Group Peterbilt and Lucky’s Truck and Trailer Sales, adding 10 locations in New York, Vermont and New Hampshire and expanding its network to 28 sites across six US states.
TLG Peterbilt acquires two Virginia dealerships
TLG Peterbilt has acquired two Fitzgerald Peterbilt dealerships in Virginia, its first locations in the state. The deal expands the group’s network to 36 dealerships across 12 states and adds sales, parts and service support for regional fleets and owner-operators.
Groupe Desharnais acquires Quebec commercial tyre provider
Groupe Desharnais has acquired Quebec commercial tyre and mechanical service provider Les Pneus Beaucerons, expanding its network to eight locations while retaining the company’s team and existing brand.
Maska acquires Kenworth and PacLease Montréal operations
Maska has acquired four Kenworth dealerships, three TRP parts stores and PacLease Montréal’s leasing operations, expanding its network to 19 locations, nearly 150 service bays and about 700 employees.
SG Fleet makes conditional takeover proposal for FleetPartners
SG Fleet has made a conditional, non-binding $3.60-a-share proposal to acquire FleetPartners through a scheme of arrangement. The potential transaction would combine major fleet-management and vehicle-leasing businesses in Australia and New Zealand, subject to due diligence and regulatory approvals.
International expects 1,341 layoffs after Ohio plant sale
International Motors expects to lay off 1,341 workers after agreeing to sell its Springfield, Ohio, assembly plant and Truck Specialty Center to Roshel. The buyer plans to use the facilities for defence-vehicle production after International’s GM contract ends.
Amerit expands Canadian commercial-vehicle operations with Triple Diamond acquisition
Amerit Fleet Solutions has acquired Mississauga-based Triple Diamond Truck and Trailer Repair, expanding its Canadian commercial-vehicle maintenance and repair operations through the Pro Reefer platform.
HF Sinclair plans lubricants spin-off and Mississauga refinery closure
HF Sinclair plans to spin off its Lubricants & Specialties business as a standalone listed company and retire its Mississauga base-oil refinery in 2027. The business will retain Ontario R&D, blending, packaging and logistics operations, supported by new base-oil supply agreements.
Amerit acquires Kirk NationaLease and Truck & Trailer Parts Solutions
Amerit Fleet Solutions has acquired Kirk NationaLease and Truck & Trailer Parts Solutions, adding 19 repair shops and expanding contract maintenance, mobile service, upfitting and fleet-support capabilities.
Toyota to become equal owner of cellcentric with Volvo and Daimler Truck
Toyota will acquire a one-third stake in cellcentric, making it an equal shareholder alongside Volvo Group and Daimler Truck. The partners aim to expand hydrogen fuel-cell production and technology for heavy-duty commercial vehicles, subject to regulatory approval.
ITE Management acquires NACPC to expand North American chassis platform
ITE Management has acquired NACPC, adding more than 20,000 chassis and expanding its North American leasing platform to over 60,000 assets. NACPC, Milestone Chassis and Trend Intermodal will retain their brands during integration.
Einride to acquire Flipturn and expand heavy-duty EV charging network
Einride will acquire charging and energy-management software company Flipturn for $38.4 million in stock. The deal adds more than 250MW of charging capacity and strengthens Einride’s integrated software and charging offering for electric heavy-duty freight.
Custom Fleet takes majority stake in Carbn to expand shared mobility
Custom Fleet has become majority shareholder in New Zealand mobility provider Carbn, adding EV sharing and connected-mobility capabilities. It plans to integrate the services with fleet management and explore expansion into Australia.
Teletrac Navman completes acquisition by Respida Capital
Teletrac Navman has completed its acquisition by Respida Capital, becoming a standalone private company. Former parent Vontier retains a minority stake, while the fleet-management provider plans further product and geographic expansion.
Nexar and Nauto agree merger to expand AI-powered fleet safety intelligence
Nexar and Nauto have agreed to merge, combining more than 10 billion miles of driving data with AI-powered fleet safety expertise. The companies say the enlarged dataset will improve risk, roadway and operational intelligence for fleets, insurers, automakers and autonomous-vehicle developers.
Swarco acquires UK road-marking firm Hi-Way Services
Austrian traffic technology group Swarco has acquired UK road-marking and high-friction-surfacing specialist Hi-Way Services. The completed deal expands Swarco’s UK operations, with Hi-Way’s managing director continuing to lead the business.
Rush Enterprises acquires Peterbilt of Louisiana dealerships
Rush Enterprises has acquired Peterbilt of Louisiana, adding five full-service dealerships, a collision centre and a PacLease operation in Baton Rouge, Houma, Lafayette, Lake Charles and New Orleans. The assets will form its new Gulf South Region.
Quarterhill to buy Conduent tolling business for $70m
Quarterhill has agreed to buy Conduent Transportation's tolling business for $70m, with the deal expected to close before year-end; Conduent has taken a 7% stake in Quarterhill and has continued its portfolio simplification.
Inspiration Mobility acquires Electrada assets to expand fleet electrification
Inspiration Mobility has acquired Electrada’s team, project pipeline, charging-depot development capabilities, intellectual property and energy-management software to expand turnkey electrification services for US commercial fleets.
Carvana expands into US new-vehicle retail with seven franchises
Carvana has acquired seven primarily Stellantis new-vehicle franchises across the US, including a high-volume Arizona dealership. The move could disrupt the franchised dealer model while expanding Carvana’s revenue and used-vehicle sourcing opportunities.