BWT Logistics Purchases North Carolina-Based 3PL IET
[Stay on top of transportation news: Get TTNews in your inbox.]
BWT Logistics is set to acquire Lowell, N.C.-based third-party logistics specialist International Express Trucking for an undisclosed sum.
Atlanta-based BWT, which specializes in business-to-business warehousing and transportation, sees the deal as beneficial for its warehouse network in a fast-growing market.
International Express Trucking has 48 employees and was founded in 2000. CEO Howard Shope will join BWT as senior vice president of operations and retain a stake in the business.
“Howard has built an incredible business that shares our mission of providing great service to customers across a full suite of logistics solutions,” BWT CEO Winston McDonald Jr. said.
Founded in 2020, BWT will have more than 400 employees once the deal goes through.
The acquisition will also provide additional contract logistics capabilities for BWT, the company’s controlling stakeholder said Dec. 19. BWT is owned by transportation and logistics investor Bluejay Capital Partners.
“This is an important step in our long-term expansion plan for BWT,” Bluejay Managing Partner Josh Putterman said in a statement. “We will continue to support the team in its geographic and service line growth through both organic and strategic partnerships. Bluejay is thrilled by the potential that [International Express Trucking] brings to the BWT platform.”
Bluejay also is a stakeholder in Priority Courier Experts, which specializes in same-day and next-day logistics. Previously, the investment group held a stake in Atlanta-based less-than-truckload specialist LTX Solutions.
Bluejay financed the transaction with help from Argosy Private Equity, Southfield Mezzanine, Spring Capital Partners and Key Bank.
BWT and International Express Trucking declined to provide details on revenues across the two entities.
Want more news? Listen to today's daily briefing below or go here for more info:
