Project Motion
Submission Date: 21/12/18
Completion Date: 30/11/18
Target: ConneXion World Cargo
Acquirer: AIT Worldwide Logistics
Deal Value: Undisclosed
Details: Supply chain solutions leader AIT Worldwide Logistics announced the expansion of its global footprint with the acquisition of ConneXion World Cargo, a freight forwarder headquartered in London with five additional locations in Asia, Europe and North America. The acquisition fulfills a long-term goal for the company to establish a greater presence in the United Kingdom.
Funding: Funded by retained cash(AIT is backed by private equity investors Quad-C Management, a firm headquartered in Charlottesville, Virginia)
Corporate Finance Advisers: (Clive Hatchard & Richard Boyden) Spectrum Corporate Finance
Legal Advisers: (John Andrews) Morrisons Solicitors
Financial Due Diligence: PWC (Atlanta & London)
Commercial Due Diligence: Performed internally with supplementary specialist DD streams
