AIT Worldwide Logistics Inc., a multi-national logistics provider, said today that Quad-C Management Inc., a Virginia-based private equity firm, has agreed to invest in the company. Terms of the partnership were not disclosed.
Privately held AIT, based in Itasca, Ill., is not putting itself up for sale, according to a company spokesman. AIT's executive management team will maintain a significant ownership stake, according to a statement from Quad-C, which is based in Charlottesville, Va. The partnership will enable AIT to grow organically and through acquisitions, Quad-C said.
Founded in 1979, AIT has more than 50 offices worldwide.