Business & Investment

AIT Worldwide Logistics Leverages Venture Assistance for Latest Acquisitions

Venture capital-backed freight carrier AIT Worldwide Logistics Acquires Intelligent LogisticsA company that provides intermediary services for freight transportation, carts, warehousing, and truck loading.

AIT, based in Itasca, Illinois, said the move will add 70 employees, 143,000 square feet of warehouse space and 40 dock doors to its two Intelligent Logistics facilities in Austin and San Antonio. I did.

The terms of the transaction have not been disclosed.

Intelligent Logistics Based in Austin, Texas We also manage the SpurFreight brand-Provides trucking, distribution and warehousing-We also serve a wide range of disciplines, including technology, food and beverage, automotive, manufacturing and e-commerce reverse logistics, processing nearly 40,000 shipments annually.

AIT is growing rapidly through a rapid series of acquisitions, acquiring 11 companies between 2017 and 2021, some of which are private equity group Quad-C Management Inc. The company’s stock was sold to another investment group, Jordan (TJC).

These deals include Multimodal International Ltd. earlier this year, Panther Logistics and Fiege Forwarding in 2020, Los Angeles-based cargo forwarder Unitrans International Corporation in 2019, and food logistics expert WorldFresh Express in 2018 and UK-based. Includes ConneXion World Cargo.

AIT said it will continue to pursue a strategic growth plan focused on global expansion through acquisitions that strengthen organic and customer supply chain support as the ownership changes to TJC. The latest moves prove it to be true.

“With strategic acquisitions like Intelligent Logistics, AIT will continue to implement its global growth plans and add valuable expertise and equipment to its expanding global network,” said AIT’s Executive Vice President of Global Operations. One Greg Weigel said in the release. “We are delighted to have our latest transportation logistics experts on our team and look forward to everything we can accomplish together.”

AIT Worldwide Logistics Leverages Venture Assistance for Latest Acquisitions

https://www.dcvelocity.com/articles/51830-ait-worldwide-logistics-taps-venture-backing-for-latest-acquisition AIT Worldwide Logistics Leverages Venture Assistance for Latest Acquisitions

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