Over the weekend, two Minnesota-based carriers under True North Equity Partners ceased operations, leaving around 200 drivers out of work. MinStar Transport and Transport Design Inc. announced their sudden closures, contributing to the ongoing Great Freight Recession that started in March 2022.

The closures were widely shared on social media, drawing attention from drivers and industry insiders. Both companies were part of True North Equity Partners’ transportation portfolio, specializing in refrigerated and dry van services across the Midwest. True North acquired Transport Design in March 2020 and MinStar Transport in October 2022.

At the time of the MinStar acquisition, True North’s trucking portfolio was projected to generate $220 million in annual revenue. A lawsuit filed against True North Transportation Holding Company in 2025 alleges breach of loan agreements, hinting at financial pressures preceding the operational shutdowns.

The trucking industry has experienced numerous closures and bankruptcies in 2025, including 10 Roads Express and Montgomery Transport. True North Equity Partners owns additional trucking assets whose current status remains uncertain amidst the industry’s challenges and excess capacity.

Bankruptcies in the trucking sector have personal and structural impacts, eliminating surplus trucks and drivers from the market. The closures of MinStar Transport and Transport Design Inc. reflect broader challenges facing the industry, with implications for drivers and stakeholders.

Read more at Yahoo Finance: Two Minnesota carriers shut down, idling 200 drivers