Two private equity companies, Warburg Pincus and Vestar Capital Partners, acquired joint control of IAS, a technology company that specializes in the intermodal sector.
Pritzker family business interests, which previously controlled IAS, will retain a significant equity stake in the company. The current management team will continue to lead IAS. Terms of the transaction were not disclosed.
IAS CEO Paul Crinks said the investment would enable the company “to enhance its solutions, extend coverage, and address broader industry needs”.
IAS collects information on about 50,000 container "events," or movements, a day, or about 10 percent of all the containers moving in international trade and uses the data to provide a variety of services for carriers, ports, truckers and railroad companies.