U.S. Markets closed

AIT Worldwide Logistics Announces Largest Acquisition To Date

FreightWaves

AIT Worldwide Logistics announced its largest acquisition to date. The company acquired Los Angeles-based freight forwarder Unitrans International Corporation, a move that will allow AIT to further the depth of its offerings. 

This is AIT's third acquisition in under a year. The company acquired food logistics forwarder WorldFresh Express and ConneXion World Cargo in October 2018 and December 2018, respectively.

"This continues AIT's expansion into the Southern California market in particular after their acquisition last year of WorldFresh which has a niche in perishable logistics," FreightWaves Air Cargo Market Expert Jesse Cohen said. "AIT is a very well-managed Chicago area-based company that has grown nationally in several major air and ocean cargo markets, and its linkup with Unitrans should continue its growth as a solid leader within the middle market forwarder tier."

AIT, a global supply chain mainstay, picked Unitrans because of its specialized service offerings and trade lane expertise in Asia and Europe, according to a media release from AIT.

"I'm excited to continue the implementation of AIT's growth strategy with our investment in this acquisition," AIT President and CEO Vaughn Moore said. "Moreover, we are delighted to welcome everyone at Unitrans as the newest members of our team. Their vast experience with high-quality, specialized international logistics services will strengthen AIT's solutions and advance our company's vision by boosting our global reputation."

AIT is dedicated to providing Unitrans employees and customers with a smooth transition, according to AIT Chief Operating Officer Keith Tholan. Unitrans will continue to run its business for its customers' ultimate success, but AIT will now be available to provide support services.

"Unitrans made a lasting impression on our senior leadership team with its unrivaled expertise when it comes to handling high-value shipments for customers in the aerospace, defense, food ingredient, high-tech and life sciences industries," Tholan said. "Over the course of 42 years the company has developed tremendous trade lane expertise in Asia and several European markets."

It was not all about service offerings, though. There was a culture piece to the acquisition as well.

"Our discussions with AIT management and staff provided us a very clear indication that our company cultures are very similar," Unitrans President Andrew Schadegg said. "We also share a ‘can-do' attitude that will enable both AIT and Unitrans to grow and succeed together in the future."

The terms of the acquisition have not been disclosed.

Image sourced from Pixabay

See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.