Quad-C Management is investing in transportation management provider AIT Worldwide Logistics. The capital is intended to assist AIT with the company’s plans to “grow organically and through acquisitions.”
Founded in 1979, AIT is a Chicago, based provider of transportation management services. The target specializes in air and sea freight, ground distribution, warehouse management, intermodal and third party logistics. AIT serves a variety of markets such as the government, life sciences, perishables, residential delivery and retail logistics sectors.
“Over the past 35 years, AIT has developed a sterling reputation in transportation and logistics, a core area of specialization at Quad-C,” states Quad-C partner Tom Hickey. “We are excited to assist AIT and support the company’s next stage of expansion.” Financial terms of the investment were not disclosed.
Quad-C, based in Charlottesville, Virginia, backs companies generating $75 million to $400 million in revenue. The middle-market private equity firm has invested more than $3.9 billion in capital across all funds since its start in 1989.
Quad-C raised its ninth investment fund in March, securing approximately $1.1 billion in capital commitments. The firm has made numerous deals in the past, including: the purchase of carpet manufacturer Stanton Carpet Corp. from Norwest Equity Partners; the completed acquisition of Rainbow Early Education Holding LLC from Spire Capital Partners; and the backing of Inmark Packaging.