Avkha Equity Holdings has acquired Minnesota-based Dart Transit Company, the companies announced Thursday. The deal, which was effective Jan. 1, marks the end of nine decades of stewardship by the Oren family, who founded the carrier in 1934.
The acquisition includes Dart Transit, Dart Express, and all related subsidiaries. While financial terms were not disclosed, Avkha—a San Francisco-based private investment firm—indicated that the purchase is a "long-term interest" intended to provide a stable platform for future growth.
Leadership transition
"After more than 90 years of ownership, the Oren family is transitioning its legacy of leadership," the company stated in its official release. Avkha views the acquisition as a strategic entry into the heavy-duty trucking market, leveraging Dart’s existing infrastructure of approximately 971 power units and 855 drivers.
As part of the ownership change, longtime industry figure Don Oren has officially retired. The transition follows a succession plan initiated in July 2024, when David Oren took over as President of Dart Express. David Oren will remain in his current role.
The executive team will be rounded out by:
- Tom Witt, who joins the organization as the new CEO.
- Mike DelBovo, who will continue to serve as President of Dart Transit Group.
The acquisition will not alter day-to-day operations, the companies said, and the Dart brand name will remain. Leadership confirmed that all facilities, drivers, and staff remain in place.
Avkha expressed intent to expand Dart’s service offerings, specifically mentioning potential growth in additional lanes, intermodal solutions, and dedicated fleet operations.
