DIVERSIS takes majority stake in TIDEWORKS

Diversis Capital, the Los Angeles-based private equity firm focused on software and technology services, acquired majority ownership of Tideworks Technology, the Seattle-based developer of terminal operating system software, from Carrix in a deal announced on 1 October 2026. Carrix, majority owned by Blackstone Infrastructure Partners, had built Tideworks internally since 1999 as its technology division, and the deal made it an independent software company after more than 25 years inside the terminal operator's structure. Carrix kept its wider marine and intermodal businesses, including terminal operator SSA Marine and Rail Management Services. At the time of the deal, Tideworks' systems ran at more than 130 marine and intermodal rail facilities worldwide, among them Carrix-controlled Manzanillo International Terminal in Panama, which had served as a key development partner. Kevin Ma, co-founder and managing partner of Diversis, said the firm had been looking for some time for a vertical software business in port and logistics technology. Subbu Bhat remained president of Tideworks and said independence would allow the company to accelerate its product roadmap and expand its international footprint. Diversis planned to invest in product development, strengthen sales and go-to-market capabilities and deepen relationships with global terminal operators and intermodal rail customers.