Dart Transit sold to private equity firm

Dart Transit, a Minnesota-based trucking fleet founded in 1934, has been sold to private equity firm Avkha Equity Holdings. 

Terms of the Jan. 1 transaction, which includes Dart Transit, Dart Express, and their subsidiaries, were not disclosed. David Oren will remain president of Dart Express, and Mike DelBovo will remain president of Dart Transit Group. In addition, Tom Witt is joining as CEO.

Oren has been president since July 2024, when he succeeded his father, Don Oren, who became chairman and consultant. He is now retiring from the company. 

Dart said the company name will not change and that the transaction will not affect day-to-day operations. Avkha hopes to expand Dart Transit Group with additional investment.

Earl Oren launched the business that would become Dart Transit Company in 1934 with a single truck and trailer.