Charlottesville, VA. October 23, 2017 – Quad-C Management, Inc. (“Quad-C”), a leading middle market private equity firm, today announced it has formed a financial partnership with AIT Worldwide Logistics (“AIT Worldwide” or the “Company”), a global leader in air and sea freight, ground distribution, warehouse management and custom supply chain solutions. Terms of the transaction were not disclosed.
Founded in 1979, Chicago, Illinois-based AIT Worldwide employs nearly 1,000 dedicated logistics professionals. With global headquarters in Amsterdam and Hong Kong, AIT has more than 50 offices worldwide.
Quad-C is partnering with AIT’s executive management team, who are maintaining significant ownership in the Company. The partnership allows for AIT to reinvest capital to grow the Company both organically and through acquisitions.
“We are thrilled to join forces with a firm that has such a high level of respect for our core values,” said Vaughn Moore, President and CEO, AIT Worldwide. “After a deliberate process, we selected Quad-C because they aligned well with both our culture and our strategic growth plan. They clearly appreciate our strong corporate identity, and they support our vision to become the global logistics provider respected for delivering a world-class experience.”
“Over the past 35 years, AIT has developed a sterling reputation in transportation and logistics, a core area of specialization at Quad-C,” said Tom Hickey, Partner, Quad-C. “The company’s ability to deliver supply chain efficiencies across nearly every industry represents a compelling value proposition for its global client base, and AIT’s management team has a proven track record of driving profitable growth. We are excited to assist AIT and support the Company’s next stage of expansion.”
“AIT represents a solid addition to our transportation and logistics vertical,” said Michael Brooks, Principal, Quad-C. “AIT has expanded organically in Canada, China, Europe, Mexico and Vietnam and we look forward to helping the company further achieve its worldwide growth objectives.”
The AIT Worldwide partnership is the latest commitment in the transportation and logistics sector for Quad-C. Other past investments include A. Stucki Company, a leading supplier of new and reconditioned railcar components; NGL, a leading non-asset based third-party logistics company providing Next Flight Out, warehousing and distribution, service parts logistics, transportation management and ground courier services; and Worldwide Express, a franchisor with 100 independently owned franchise offices across the U.S., serving small-to-medium-sized businesses by providing various asset-light logistics services.
Founded in 1979, Chicago, Illinois-based AIT Worldwide Logistics is a full-service transportation management provider. With continental headquarters in Chicago, Amsterdam and Hong Kong, AIT’s offices form a vast network spanning the globe. By coupling a flexible business model with robust technology that presents end-to-end shipment visibility, AIT delivers precisely tailored supply chain efficiencies for almost every industry imaginable. Leveraging creative, competitively priced multimodal solutions, AIT removes the complexity from global logistics puzzles, helping companies thrive by regaining focus on the core goals of their business.www.aitworldwide.com
Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in well-established business services, consumer, general industrial, healthcare, specialty distribution and transportation/logistics companies. In its 25-year history, Quad-C has invested over $2 billion of equity across more than 50 companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. www.quadcmanagement.com