Open Road Ventures Buys Double-Stack Logistics in Its First Acquisition

What happened

Open Road Ventures, a private equity firm based in Valparaiso, Indiana, has acquired Double-Stack Logistics, a Dallas intermodal freight broker. The deal was announced on June 2, 2026, and is ORV's first acquisition. Financial terms were not disclosed.

The seller

Double-Stack is an asset-based intermodal marketing company, or IMC. It owns and operates more than 150 rail containers and holds direct contracts with the Class I railroads, a distinction ORV's announcement says is held by only a few dozen of more than 10,000 logistics companies.

The company serves multiple major U.S.-based shippers. Alongside standard over-the-road and traditional intermodal freight, it runs a conversion business: freight that normally moves by truck, redesigned to move by rail.

Joe Kolb founded Double-Stack and is its CEO. He described the conversion work this way: "We take items that typically don't ship intermodal and work with the railroads to come up with a plan to shift and move that product from over the road to intermodal." On the equipment: "We have our own fleet of containers that move on the rail, and that's pretty unique for a company our size." And on the new owner: "Having access to ORV and the people behind it, our goals are now 10 times bigger than I ever envisioned."

The buyer

ORV describes itself as "a Middle Market Private Equity Firm focused on acquiring small to mid-sized freight brokerage firms and strengthening their operations, while maintaining their entrepreneurial spirit." Founding member Mike Riccio founded More Than Miles Consulting, and the team also includes executives from ARL Network and US1 Industries.

The announcement is explicit about why Double-Stack came first: being an asset-based IMC "is a major differentiator and one of the main reasons ORV is making this their first acquisition." It also describes what ORV offers the businesses it buys: "all the resources of a top tier, national freight brokerage while continuing their legacy, maintaining their brand identity and operational strengths."

Riccio said the firm has more deals in the works: "We have a series of acquisitions in the works and look forward to bringing new partners onboard in the coming months." Two months after the Double-Stack announcement, ORV named Adam Rodery vice president of strategy and integration and appointed Jack Ciattarelli and Ryan Schreiber as the first two members of its board of advisors.

What this means for freight brokerage owners

ORV's first deal went to a broker whose business rests on things few brokers hold: owned rail containers, direct Class I contracts, and a conversion book built on both. For a freight brokerage owner, the useful part of this deal is that the buyer put that asset base in writing as a main reason for its choice. An owner with something comparable, whether owned equipment, direct railroad or carrier contracts, or a service line competitors cannot easily reproduce, holds the thing this buyer named first.

Because Double-Stack was ORV's first acquisition, it is the reference an owner in talks with ORV can ask about, including where Kolb's role and the Double-Stack brand stand today. Our guide to selling a logistics company covers how buyers weigh service mix and operations.

OffDeal is an advisory firm that helps lower-middle-market business owners sell with confidence. Reach out to learn more about our expertise with freight brokerage businesses in Texas.

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Source: Open Road Ventures - https://www.openrdventures.com/post/open-road-ventures-acquires-intermodal-freight-broker-double-stack-logistics