AIT picks a Dutch spare part
Chicago-headquartered AIT Worldwide Logistics has acquired Global Transport Solutions Group (GTS). The financial terms of the deal were not disclosed. The international freight forwarder specialises in time-critical marine spare parts logistics and is based in the Netherlands.
The company’s business is divided into the sub-brands Marinetrans (founded in 1991), which focuses on spare parts logistics for ship owners and managers, and Best Global Logistics (founded in 2007), which provides time-critical solutions and general forwarding for other industries, including life sciences shippers.
GTS has more than 600 employees working from 16 locations in Asia, Europe, the Middle East, and North America. In addition, the company's network includes nine consolidation hubs with about 45,000 sqm of warehouse space.
It is a big move for AIT chairman and chief executive officer, Vaughn Moore, who commented: "This is the largest acquisition in our company’s history.” Furthermore, the acquisition provides AIT with a new geographic presence in Greece, Japan and the Nordic region while adding capacity and subject matter expertise to the existing networks in China, the Netherlands and Singapore.
According to GTS co-CEO Vegard Prytz, the choice of AIT is a good fit: “Because of the highly fragmented and international nature of our clients’ requirements, they need a trusted partner with a vetted and effective global network.” (cd)
www.globaltransportsolutions.com