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👋 Scoop: Sponsors pass on Trimble unit

📅 The week that was

📰 The reading line

🗣️ Quote of the week

Bain Capital and Apax Partners are no longer in the running to buy Trimble's transportation and logistics portfolio, Axios Pro has learned.

Why it matters: It clouds the future of the divestiture, even as deal activity picks up in transportation management systems.

The PE firms' bid prices could not be learned.

Between the lines: The Trimble unit is a complex, strategic asset containing four distinct businesses, including Enterprise, Maps, Vusion and the Transporeon TMS platform.

A prospective buyer could unwind it and sell the businesses separately, one source says.

1 big thing: 👋 Scoop: Sponsors pass on Trimble unit

Illustration of Ben Franklin from a hundred dollar bill diving a semi truck

Pike Street Capital is seeking to sell QuickBox, an e-commerce fulfillment and logistics provider, three sources tell Axios Pro. Go deeper

Logistics software giant Descartes has acquired transportation management system provider Tai for $100 million in cash. Go deeper

Logistics orchestration startup Nauta is targeting a $20 million to $30 million raise after closing a strategic round, CEO Valentina Jordan tells Axios Pro exclusively. Go deeper

Rival railroads are clashing over the proposed $85 billion Union Pacific-Norfolk Southern deal in motions filed with the Surface Transportation Board. Go deeper

Behnke Dedicated & Logistics acquired Piedmont, S.C.-based trucking carrier Ag Freight, per Trucking Dive. Go deeper

Mubadala Capital agreed to buy a majority stake in Arrive Logistics, a truckload brokerage whose backers include ATL Partners and Lead Edge Capital. Go deeper

Navisalma, a new European deep-tech VC firm launched by two Einride co-founders, will seek to raise €450m. Go deeper

Gatik, a developer of self-driving box trucks, raised $200m. QIA and Koch Disruptive Technologies led, joined by Millennium Management, ARK Invest and Intact Private Capital. Go deeper

Embedd, a London-based developer of software infrastructure for physical AI, raised €2.3m in pre-seed funding. Seedcamp led, joined by Cocoa, Connect Ventures, 2100 Ventures, Vesna Capital, U.ventures, Underline Ventures, Common Magic and Roosh Ventures. Go deeper

Kelso & Co. invested in Bearing Distributors, a Cleveland-based distributor of bearings, power transmission and fluid power products. Go deeper

2. 📅 The week that was

Illustration of a dollar bill on a cellphone with ballot elements in the background

Illustration: Sarah Grillo/Axios. Stock: Getty Images

🤔 End of DP World-owned freight tech shifts focus (Journal of Commerce)

🇮🇷 Pipelines and ports: Iran war spurs Gulf infrastructure investment (Reuters)

🚢 "That sucker is open": U.S. gains the upper hand in Hormuz battle (Axios)

🇺🇸 Where Trump's tariffs hit hardest (Axios)

3. 📰 The reading line

Illustration of a squirrel dressed as a reporter with a notepad and press pass in his hat. 

"We're seeing things cooking faster than what I've ever seen." 

— Valentina Jordan, Nauta CEO, tells Axios Pro

4. 🗣️ Quote of the week

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🍨 Two deal scoops

August 29, 2026

1 big thing: 👋 Scoop: Sponsors pass on Trimble unit