AIT Worldwide Logistics makes third acquisition in less than a year
Buying freight forwarder Unitrans International Corp. enhances trade lanes in Asia and Europe, adds customers in aerospace, defense, food ingredient, high-tech, and life sciences.
Supply chain solutions provider AIT Worldwide Logistics has bought its third company in less than a year, acquiring Unitrans International Corp., a freight forwarder with expertise in the aerospace, defense, food ingredient, high-tech, and life sciences industries.
Terms of the deal were not disclosed.
Itasca, Ill.-based AIT also acquired the food logistics forwarder WorldFresh Express and U.K.-based ConneXion World Cargo in 2018. Those deals followed AIT's announcement in 2017 that it had sold a portion of the firm to Quad-C Management Inc., a Virginia-based private equity firm. AIT's executive management team still retains a significant ownership stake in the company.
AIT called the purchase of Los Angeles-based Unitrans its largest acquisition to date, saying it adds strategic service depth along with enhanced trade lane expertise in Asia and Europe.
The company plans to continue running Unitrans with no planned changes following the closing of the deal. "We understand that Unitrans is a highly successful, sophisticated enterprise and our aim is to promote stability for their customers and teammates," AIT Chief Operating Officer Keith Tholan said in a release. "AIT will provide whatever support is needed, but Unitrans will otherwise continue to run their operation with their customers' best interests as the primary driver."
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