HedgeCo.Net — Diversis Capital, the Los Angeles-based private equity firm focused on enterprise software, has acquired majority ownership of Tideworks Technology from Carrix, turning the terminal operating system provider into an independent, standalone company. Financial terms were not disclosed, according to the announcement and reporting by Splash247 on October 5, 2026.
Seattle-based Tideworks was founded in 1999 as Carrix’s technology division and has grown into an established supplier of software to marine and intermodal terminals. Its systems are used at more than 130 facilities worldwide, and the company says more than 300,000 logistics professionals rely on its products daily. The product line includes the Mainsail 10 terminal operating system, Intermodal PRO and tools for terminal planning, equipment control and operational visibility.
Carrix, which is majority owned by Blackstone Infrastructure Partners, keeps its broader marine and intermodal operations, including terminal operator SSA Marine and Rail Management Services. The deal takes Tideworks outside that operating structure after more than 25 years. Diversis said it plans to invest additional capital in product development, sales and customer support as the business separates.
Diversis is investing from a $1.2 billion fund and manages more than $3.6 billion, according to Splash247. The transaction fits a familiar software buyout playbook: carving a captive technology unit out of an operating parent and giving it the independence and capital to sell to a broader customer base, including terminals that may have viewed a competitor-owned vendor with caution. Tideworks has been migrating customers to cloud-hosted deployments, including an AWS-hosted rollout at the Port of Miami Terminal Operating Company in March.
For investors in infrastructure and software, the deal illustrates how infrastructure owners are separating asset-light technology from capital-intensive operating businesses. Execution risks for the new owner include standing up independent back-office functions, retaining Carrix-affiliated terminals as customers, and funding the cloud migration without disrupting mission-critical port operations.