AIT Worldwide Logistics focuses on organic growth, M&A after PE recapitalization

Illinois-based freight forwarder AIT Worldwide Logistics, which expanded significantly in recent years under the ownership of private equity (PE) firm Quad-C Management Inc., was sold to The Jordan Company in a deal that closed in March. AIT plans to use the recapitalization to continue fueling growth, with a greater focus on the organic expansion of its existing operations as well as acquisition strategies. [caption id="attachment_94875" align="alignright" width="450"] © Can Stock Photo / chalabala[/caption] With $1.2 billion dollars in gross revenue reported for 2020, AIT President and CEO Vaughn Moore said in an interview with Air Cargo World that he expects the company to continue growing exponentially, especially in the sectors of e-commerce, residential delivery, life sciences and technology. “It’s all predicated on client needs,” Moore said of AIT’s expansion plans. "We listen to what our clients would like, where they would like us to be, what they would like us to be servicing them.” While Europe has always been a focus for AIT, Moore stated that the company is looking towards expansion in Eastern Europe as well as potential development in Mexico and South America. Although AIT does not believe that they need a local office to serve a client, Moore said there eventually may be a need for a presence on the ground as the company continues to expand, especially as it grows its verticals and sectors. AIT’s recapitalization with TJC and its strategic growth plan also includes an acquisition strategy that seeks out companies that are complementary and enhance its current offerings, such as its recent European acquisition that the company used to expand its trans-Atlantic air consolidation service . "I’m always looking at opportunities,” said Moore. “I have a deep, deep pipeline of acquisition targets that I’m evaluating daily, and we will continue to be aggressive in that space.” This includes the expansion into truckload brokerage which, according to Moore, will increase as the unprecedented global port congestion begins to lessen in June and July. “However, since we made two fairly large acquisitions at the end of last year, right now we’re in a bit of digestion mode to make sure that we get them brought in properly and make sure that we do it the right way before we more on to our next target.” AIT is among the growing list of logistics companies receiving private equity investments throughout 2020 and 2021, including U.S.-based Able Freight and several Chinese logistics companies . The pandemic — and subsequent capacity shortages and higher rates — has highlighted the importance and growth potential of logistics companies to investors. The consolidation-heavy market is making certain companies targets for acquisition, and according to Moore, the investment from TJC will allow AIT a broader scope of acquisitions that could be larger than what they would have previously looked at. “It’s a game of musical chairs of consolidation in our industry, and especially as a freight forwarder,” Moore said. “So people better find a seat to be able to partner with someone some way, because you’re going to get left out.

AIT Worldwide Logistics focuses on organic growth, M&A after PE recapitalization

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