Diversis Capital buys majority of Tideworks from Blackstone-backed Carrix

What's the deal? Diversis CapitalDealroom has a profile for this one. Try Dealroom →, a Los Angeles-based private equity firm focused on software and technology services, has acquired majority ownership of Tideworks TechnologyDealroom has a profile for this one. Try Dealroom → from CarrixDealroom has a profile for this one. Try Dealroom →, which is majority owned by Blackstone Infrastructure Partners. Terms were not disclosed. Tideworks becomes a standalone, independent business.

What each side does: Tideworks, founded in 1999 as Carrix's technology division and based in Seattle, builds terminal operating system (TOS) software for marine and intermodal rail operations. Its products — including the flagship Mainsail 10 TOS and Intermodal PRO — serve more than 130 facilities across North America, Europe, and Latin America.

Why now? Diversis had been hunting for a vertical software target in port and logistics technology. "We have been looking for the right vertical software business in the port and logistics technology space for some time, and Tideworks is exactly the type of company we love to partner with," said Kevin Ma, co-founder and managing partner of Diversis.

What's the endgame? Diversis plans to invest in Tideworks' product innovation, expand its go-to-market reach, and deepen ties with terminal operator and intermodal rail customers. The firm intends to run the company as an independent business backed by its software value-creation approach.

For Carrix, the sale caps a 25-year ownership run. "As Tideworks enters this next chapter, it was important to us to find a partner with deep software experience," said Uffe Ostergaard, chief executive officer of Carrix.

Subbu Bhat, president of Tideworks, said independence positions the company to "accelerate our product roadmap, expand our global footprint, and continue delivering the innovation and service that terminal operators around the world depend on."

The signal: The deal reflects a steady carve-out of niche, mission-critical software from larger infrastructure owners into private equity hands. With over 300,000 logistics professionals using its tools daily, Tideworks sits at the core of global port and intermodal supply chains — a bet by Diversis that vertical software can keep compounding on its own.

Read more: prnewswire.com

Image credit: Ron Cogswell