Charlottesville, VA, March 17, 2021 – Quad-C Management (“Quad-C”), a leading middle market private equity firm, announced today that it has agreed to sell its stake in AIT Worldwide Logistics, Inc. (“AIT”), a leading international non-asset-based freight forwarder, to The Jordan Company in a recapitalization valued at over $1.2 billion. President and CEO Vaughn Moore and his senior team will continue to lead the business and will remain significant investors in AIT.
Headquartered in Chicago, IL, AIT is a global leader in transportation management, providing an integrated suite of global, end-to-end supply chain services to a diverse base of over 6,000 customers across a range of targeted verticals including automotive, consumer, retail, food logistics, government, healthcare, industrial, life sciences and technology. Services include air and ocean freight forwarding, expedited ground, truck brokerage, residential delivery, customs brokerage and other value-added logistics offerings.
During the fourth quarter of 2020, AIT completed the acquisitions of Panther Logistics, a leading U.K.-based asset-light residential delivery services provider, and Fiege Forwarding, a Germany-based air and ocean freight forwarding business.
“It has been a great pleasure partnering with the terrific team at AIT to help solidify AIT’s position as a world-class logistics provider,” said Tom Hickey, Partner at Quad-C. “Over the past three years, AIT has invested in its employees to strengthen sales and operations and completed eleven acquisitions, more than doubling its revenues to over $1.2 billion. Today, AIT is a leader in its markets capable of serving customers in multiple geographies. We wish the great people at AIT all the best for the future.”
“Our experience with the Quad-C team has been phenomenal,” said Vaughn Moore, President and CEO of AIT. “Quad-C’s experience in the logistics industry, along with their focus on growth and business development, helped us build our business to reach new heights. We are on a trajectory for growth that is built on a very solid foundation as a result of our partnership. We are very fortunate to have had such great partners in Quad-C.”
“We have really enjoyed working with the management team at AIT and are grateful for the dedication of all of the company’s employees, particularly through the pandemic,” said Michael Brooks, Partner at Quad-C. “During the course of our partnership, AIT has strengthened its capabilities in a number of market verticals, including life sciences, consumer and retail, and has added direct presence in a number of geographies, most notably in Europe.”
Harris Williams serves as exclusive financial advisor to AIT and White & Case LLP is acting as legal counsel to AIT.
Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in well-established business and consumer services, healthcare, industrials, specialty distribution and transportation / logistics companies. In its three-decade history, Quad-C has invested over $3 billion of capital in more than 70 platform companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. Learn more about Quad-C at www.quadcmanagement.com.
AIT Worldwide Logistics is a global freight forwarder that helps its customers grow by expanding access to markets all over the workd where they can sell and/or procure raw materials, components and finished goods. For more that 40 years, the Chicago-based supply chain solutions leader has relied on a consultative approach to build a global network and trusted partnerships in nearly every industry, including aerospace, automotive, consumer, retail, food, government, healthcare, high-tech, industrial and life sciences. Backed by scalable, user-friendly technology, AIT's flexible business model customizes door-to-door deliveries via sea, air, ground and rail—on time and on budget. With expert teammates staffing more than 85 worldwide locations in Asia, Europe and North America, AIT's full-service options also include customs clearance, warehouse management and white glove services. Learn more at www.aitworldwide.com