Diversis Capital LLC has acquired majority ownership of Tideworks Technology Inc. from Carrix Inc., a port technology vendor whose flagship Mainsail 10 terminal operating system (TOS) runs operations at more than 130 marine and intermodal rail facilities worldwide.

The Los Angeles-based private equity firm closed the transaction with Carrix, itself majority owned by Blackstone Infrastructure Partners. Tideworks' software suite — including Mainsail 10 TOS, Intermodal PRO, and a set of planning and execution modules — handles daily workflows for more than 300,000 logistics professionals across terminals in North America, Europe, and Latin America.

"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," said Kevin Ma, co-founder and managing partner of Diversis Capital.

What does Tideworks bring to Diversis?

Founded in 1999 as Carrix's in-house technology division, Tideworks has spent 25 years building around cargo transportation operations. The vendor markets itself as a full-service TOS provider for both marine terminals and intermodal rail yards, planting its flag at the ocean-rail interface of the supply chain.

Diversis intends to invest in product development and global go-to-market capability, drawing on its vertical-software playbook. The firm has been scouting the port and logistics technology segment for an extended period, according to Ma's statement.

Who is selling, and why now?

Carrix, the marine terminal and rail yard operator that spawned Tideworks, exits the software business entirely. Uffe Ostergaard, CEO of Carrix, framed the deal as a transition to a specialist owner.

"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," Ostergaard said. "As Tideworks enters this next chapter, it was important to us to find a partner with deep software experience."

Carrix remains under majority ownership of Blackstone Infrastructure Partners, which retains exposure to the physical-asset side of the port ecosystem.

What changes for terminals running Tideworks software?

Tideworks will operate as a standalone, independent software vendor under Diversis. Subbu Bhat, president of Tideworks, said the new structure accelerates product investment and geographic reach.

"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," Bhat said.

For shippers and forwarders using terminals that run on Mainsail 10 or Intermodal PRO, the practical effect is continuity of vendor relationship. Diversis signaled it intends no disruption to existing customer contracts, framing the deal as growth capital rather than a cost-out play.

What is at stake in the TOS market?

Terminal operating systems sit at the heart of container and intermodal automation, controlling gate flow, yard moves, and berth planning. A 130-facility installed base gives Tideworks scale that few pure-play TOS vendors can match, particularly in the intermodal rail segment where the company cites deep domain expertise.

With container dwell and yard productivity under fresh scrutiny across North American ports, terminal operators are pressing vendors for faster release of automation modules. Diversis signaled it will fund that push.

Ma said the firm will "invest meaningfully in the platform, the team, and the product to ensure Tideworks remains the gold standard for terminal operating systems globally."

What's next?

Bhat has committed to accelerating the product roadmap and broadening Tideworks' international footprint under Diversis ownership. The incumbent leadership team continues running the business as integration planning progresses through the remainder of 2025, with further capital deployment expected once carve-out work wraps.