Harris Williams Advises AIT Worldwide Logistics on its Recapitalization by The Jordan Company

Rhea-AI Summary

Harris Williams advised AIT Worldwide Logistics on its sale to The Jordan Company in a recapitalization valued at over $1.2 billion. AIT's leadership team will continue to manage the company and remain significant investors. AIT is recognized as a leading non-asset-based global freight forwarder, serving diverse industries worldwide. The transaction reflects strong investor interest in the third-party logistics sector. Harris Williams continues to play a crucial role in AIT's growth strategy, underlining the firm's expertise in logistics and supply chain solutions.

Positive

• Transaction valued at over $1.2 billion indicates strong market position.
• Leadership team remains intact, ensuring continuity in management.
• Continued strong investor interest in third-party logistics sector.

Negative

• None.

Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised AIT Worldwide Logistics (AIT), a portfolio company of Quad-C Management (Quad-C), on its sale to The Jordan Company (TJC) in a recapitalization valued at over $1.2 billion. AIT President and CEO Vaughn Moore and his senior team will continue to lead the business and will remain significant investors in AIT. AIT is a leading non-asset-based global freight forwarder. The transaction was led by Jason Bass, Jeff Burkett, Frank Mountcastle, Jonathan Meredith, Trey Balson and Brett Bordlee of the Harris Williams Transportation & Logistics (T&L) Group.

“AIT’s tailored supply chain solutions, global footprint and commitment to client service make it the logistics provider of choice for a diverse universe of companies around the world,” said Jason Bass, a managing director at Harris Williams. “In partnership with management, Quad-C has created tremendous value at AIT through both organic and strategic initiatives. We are thrilled to have Quad-C entrust us with this important outcome.”

“It was a privilege to represent AIT on another transaction. The leadership team’s collective vision and tireless execution have propelled AIT to its market-leading position in the third-party logistics sector,” said Jonathan Meredith, a director at Harris Williams.

“There continues to be strong investor interest in the third-party logistics sector for market-leading platforms with the scale, infrastructure and management team in place to service the complex supply chain needs of global blue-chip customers,” added Jeff Burkett, a managing director at Harris Williams.

Vaughn Moore, AIT president and CEO, said, “We were excited to continue our longstanding relationship with Harris Williams to help find our next partner. The team’s expertise within the third-party logistics sector and familiarity with the type of partner we were looking for made them the right choice to navigate this transaction. We continue to appreciate their guidance through the major milestones in our company’s growth.”

AIT is a global freight forwarder that helps its customers grow by expanding access to markets all over the world where they can sell and/or procure raw materials, components and finished goods. For more than 40 years, the Chicago-based supply chain solutions leader has relied on a consultative approach to build a global network and trusted partnerships in nearly every industry, including aerospace, automotive, consumer, retail, food, government, healthcare, high-tech, industrial and life sciences. Backed by scalable, user-friendly technology, AIT's flexible business model customizes door-to-door deliveries via sea, air, ground and rail—on time and on budget. With expert teammates staffing more than 85 worldwide locations in Asia, Europe and North America, AIT's full-service options also include customs clearance, warehouse management and white glove services.

Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in well-established business and consumer services, healthcare, industrials, specialty distribution and transportation/logistics companies. In its three-decade history, Quad-C has invested over $3 billion of capital in more than 70 platform companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value.

TJC, founded in 1982, is a middle market private equity firm with original capital commitments in excess of $13 billion. TJC has a 38-year track record of investing in and contributing to the growth of many businesses across a wide range of industries, including industrials; transportation and logistics; healthcare and consumer; and telecom, technology and utility. The senior investment team has been investing together for over 20 years and is supported by its Operations Management Group, established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has an office in Chicago.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams Transportation & Logistics Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), automotive and heavy-duty vehicle, transportation equipment, and truck, rail, marine and air transportation. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210407005626/en/

FAQ

What is the value of AIT Worldwide Logistics' sale to The Jordan Company?

The sale of AIT Worldwide Logistics to The Jordan Company is valued at over $1.2 billion.

Who advised on the sale of AIT Worldwide Logistics?

Harris Williams advised AIT Worldwide Logistics on its sale to The Jordan Company.

What industry does AIT Worldwide Logistics operate in?

AIT Worldwide Logistics operates in the third-party logistics sector.

What does the transaction mean for AIT's leadership?

AIT's leadership team will continue to lead the business and remain significant investors post-transaction.

What kind of company is The Jordan Company?

The Jordan Company is a middle market private equity firm with a long history of investing in various industries.