Diversis Capital LLC announced that it has acquired majority ownership of Tideworks Technology® Inc. (“Tideworks”) from Carrix, Inc. which is majority owned by Blackstone Infrastructure Partners. Tideworks is a full-service provider of comprehensive terminal operating system (TOS) 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.

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 – including its flagship Mainsail 10 TOS, Intermodal PRO, and a suite of planning and execution tools – 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.

Uffe Ostergaard, Chief Executive Officer of Carrix, said, “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. We believe Diversis is the right partner with the experience and collaborative approach to help Tideworks continue delivering the quality, innovation, and service that its customers rely on.”

Subbu Bhat, President of Tideworks Technology, said, “This is an exciting new chapter for Tideworks and our customers. As an independent software company backed by Diversis, we are well-positioned to accelerate our product roadmap, expand our global footprint, and continue delivering the innovation and service that terminal operators around the world depend on. Our mission remains the same: partnering with our customers to optimize global logistics with integrity, efficiency, and flexibility. We are grateful for the support of Carrix throughout this journey and look forward to what lies ahead.”

Kevin Ma, Co-Founder and Managing Partner of Diversis Capital, said, “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 – a true market leader with a mission-critical product, a loyal and growing customer base, and a highly talented management team. Subbu and the entire Tideworks team have built something truly special, and we are thrilled to have the opportunity to support their continued growth. We intend to invest meaningfully in the platform, the team, and the product to ensure Tideworks remains the gold standard for terminal operating systems globally.”