AIT Worldwide Logistics has expanded its global footprint after acquiring UK-based freight forwarder ConneXion World Cargo.
The forwarder is headquartered in London and has five additional locations in Asia, Europe and North America. The agreement was finalised on 30 November. No details of the financial agreement was revealed.
AIT president and chief executive officer, Vaughn Moore said the acquisition fulfills a long-term goal for the company to establish a greater presence in the UK.
He said: “AIT has many customers in the UK with consistently high cargo volume and the company’s aspiration to expand there has intensified in recent years. This acquisition also reinforces AIT customers’ supply chains in the UK with robust local expertise, particularly when it comes to licensing and customs connections.
“Adding the ConneXion group to our global team will help mitigate any uncertainty our customers with business in the UK may have with respect to the forthcoming Brexit milestones.”
Moore added: “AIT is thrilled to expand our operations in Europe with the acquisition of ConneXion World Cargo. We welcome our new ConneXion colleagues in Asia, Europe and North America to our global team and we look forward to supporting ConneXion’s loyal customers.”
ConneXion World Cargo has offices in Halifax, Canada; Hong Kong, China; Paris, France as well as UK operational centers in London, Exeter and Manchester and its global headquarters is situated in close proximity to London’s Heathrow Airport.
AIT is an international transportation and logistics company employing nearly 1,000 in more than 50 offices around the world with headquarters located in Chicago, Amsterdam and Hong Kong.