Diversis Capital Acquires Majority Stake in Terminal Software Leader Tideworks

Diversis Capital LLC, a Los Angeles-based software and technology services-focused private equity firm, acquired a majority ownership of Tideworks Technology Inc. from Carrix, Inc., which is majority-owned by Blackstone Infrastructure Partners. Tideworks is a provider of comprehensive terminal operating system solutions for marine and intermodal rail terminal operations worldwide, serving more than 130 facilities across the globe. This transaction represents a significant milestone for Diversis as it continues to expand its portfolio of market-leading vertical software businesses.

“Since its founding, Tideworks has been an integral part of Carrix, and we are proud of the exceptional product and team that has been built over the past 25 years. As Tideworks enters this next chapter, it was important to us to find a partner with deep software experience to work closely with the Tideworks leadership team to further enhance the platform and expand its product capabilities,” said Uffe Ostergaard, chief executive of Carrix, in a statement.

Founded in 1999 as the technology division of Carrix, Inc., Tideworks has grown into a global software brand with deep expertise in cargo transportation operations. The company’s product suite powers terminal operators across North America, Europe and Latin America. With over 300,000 logistics professionals relying on Tideworks’ solutions daily, the company occupies a mission-critical position in the global port and intermodal infrastructure ecosystem.

Diversis plans to invest in accelerating Tideworks’ product innovation, expanding its go-to-market capabilities and deepening its relationships across its global terminal operator and intermodal rail customer bases. The firm intends to leverage its operational expertise and software-focused value creation playbook to support Tideworks’ next phase of growth as a standalone, independent business.

“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 Capital, in a statement.

Information for this story was provided by Diversis Capital.