Illinois-based AIT Worldwide Logistics has acquired Panther Logistics, a U.K.-based final-mile provider specializing in white-glove home deliveries in the e-commerce and retail sectors.
AIT purchased Panther from U.K. private equity firm LDC, which backed a management buyout in 2016. The price was not disclosed.
“The team of logistics experts at Panther is renowned in the United Kingdom for their commitment to providing fast, quality home delivery services,” AIT Chief Operating Officer Keith Tholan said in a statement on Tuesday. “It was clear very quickly that bringing the experts at Panther into the AIT network would be a boon for our customers looking for affordable, flexible and reliable residential options — particularly for e-Commerce deliveries, as that market continues to boom.”
The acquisition expands AIT’s global footprint, adding eight U.K. locations and about $80 million in annual revenue. The deal marks the company’s first acquisition since its 2019 purchase of Los Angeles freight forwarder Unitrans International Corp.
It comes as the U.K. forges ahead with trade deals ahead of its exit from the EU. On Saturday, the Canadian and British governments announced an agreement that preserves the trade relationship they had under an EU pact.
The U.K., meanwhile, is attempting to hash out the terms of its Brexit trade agreement with the EU itself.
While uncertainty looms over the future of the U.K.’s international trade agreements, e-commerce demand continues to rise during the COVID-19 pandemic.
Click for more FreightWaves articles by Nate Tabak
Foreign sourcing to delay Canada COVID-19 vaccine distribution
COVID-19 vaccine distribution could start in mid-December, official says
Rookie trucker held after CBP finds pot in Texas-bound pork shipment
Freight Fraud Symposium
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Rock & Roll Hall of Fame • Cleveland, OH Register NowPast the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post Office • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now