E.F. Hutton Advises Two Texas Presidents in AVKHA Equity Holdings’ Acquisition of Dart Transit Group
NEW YORK, Feb. 09, 2026 (GLOBE NEWSWIRE) — E.F. Hutton & Co. (“E.F. Hutton”), a leading investment banking and financial advisory firm, announced that it served as financial advisor to Two Texas Presidents, the strategic capital partner to AVKHA Equity Holdings and Constellation Equity Holdings, in connection with AVKHA’s acquisition of Dart Transit Group, including Dart Transit, Dart Express, and affiliated subsidiaries. The transaction became effective January 1, 2026 and marks the conclusion of more than 90 years of family ownership by the Oren family.
Founded in 1934, Dart Transit Group has grown from a single-truck operation into a nationally recognized transportation and logistics provider headquartered in Eagan, Minnesota, offering truckload, dedicated, and logistics services across North America. The company operates nearly 1,000 power units and employs hundreds of drivers nationwide.
As part of the ownership transition, Don Oren, son of founder Earl Oren, has retired, while David Oren will continue to serve as President of Dart Express. Mike DelBovo remains President of Dart Transit Group, and Tom Witt has joined the organization as Chief Executive Officer. The Dart name, leadership structure, operating entities, facilities, and day-to-day operations will remain unchanged.
E.F. Hutton advised Two Texas Presidents throughout the transaction, supporting deal structuring, financial analysis, diligence coordination, and execution, and playing a key role in aligning long-term strategic objectives between AVKHA Equity Holdings and Dart’s leadership team. The transaction represents the first step in AVKHA’s broader plan to build a scaled trucking and logistics platform through disciplined investment and operational continuity.
“Dart is more than a transportation company — it is a legacy brand that has earned trust across America for over 90 years,” said Dominic Foster, President of AVKHA Equity Holdings. “We view our role as long-term stewards of companies such as Dart. We are pleased to have Two Texas Presidents, who share in those American values and a long-term perspective, as part of this transaction. It honors the Oren family’s legacy, one built on honor and trust, while positioning Dart for its next chapter with continuity, faith, respect, and strong leadership at the core.”
Dallas C. Salazar, Managing Member of Two Texas Presidents, a family office based in Austin, Texas, which provided strategic capital to close the Dart transaction noted, “There are few brand names, in any business in America, as respected and recognizable as the Dart name, which has proudly served the country for over 90 years. Dart could not have chosen a better steward of its legacy than Avkha, which has long admired the operations and the culture of this American institution. Two Texas Presidents is proud to be a part of the transaction and holds its ownership in the Dart companies as a flagship asset.”
AVKHA Equity Holdings, a San Francisco-based private investment firm with a diversified U.S. portfolio, has stated that it views Dart Transit Group as a strong operational platform for growth and intends to pursue additional investment opportunities within the organization. At the same time, the firm has emphasized that the acquisition will not result in changes to Dart’s service offerings, customer relationships, workforce, or facilities.
“E.F. Hutton’s role was to help ensure this transaction delivered certainty, alignment, and long-term strategic value for all parties involved,” said Joseph T. Rallo, Chief Executive Officer of E.F. Hutton & Co. “Dart Transit Group enters its next chapter with strong leadership continuity, operational stability, and a capital partner committed to thoughtful growth rather than disruption.”
Mr. Rallo continued, “We are proud to advise Two Texas Presidents and to support AVKHA Equity Holdings as it executes a responsible platform-building strategy in transportation and logistics. This transaction sends a clear message to the market: AVKHA’s approach prioritizes continuity, partnership, and long-term value creation — and companies that engage with AVKHA can expect consistency, professionalism, and stability.”
The transaction further reinforces E.F. Hutton’s position as a trusted advisor to financial sponsors and strategic capital partners pursuing acquisition-led growth strategies. E.F. Hutton will continue to support AVKHA and its partners as they evaluate future expansion opportunities in the transportation and logistics sector.
About E.F. Hutton & Co.
E.F. Hutton & Co. is a full-service investment banking and advisory firm providing strategic advisory, capital markets, and transaction execution services to corporations, financial sponsors, and institutional investors. The firm has executed more than 500 transactions totaling over $60 billion in proceeds across mergers and acquisitions, capital formation, and complex financial transactions.
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