AIT Worldwide Logistics acquires UK-based freight forwarder ConneXion World Cargo
The expansion of AIT's global network will support the company's many customers with supply chains in the UK
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 agreement was finalized on Friday, November 30.
The newly acquired company's six locations will be overseen by AIT's Executive Vice President, Global Operations, Greg Weigel. Terms of the deal have not been disclosed.
According to AIT President and CEO Vaughn Moore, the acquisition of ConneXion fulfills a long-term goal for the company to establish a greater presence in the United Kingdom. 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."
AIT's Chief Information Officer, Ray Fennelly, said, "ConneXion is an excellent fit for AIT, especially since their company culture is so similar to ours. The members of their management team have a long tenure with the business during which they have cultivated impressive long-lasting partnerships with their customers. They are a financially stable full-service provider with extensive local relationships and knowledge; we are very pleased that ConneXion's global team of logistics professionals have joined AIT."
ConneXion World Cargo has offices in Halifax, Canada; Hong Kong, China and Paris, France as well as United Kingdom-based operational centres in London, Exeter and Manchester. ConneXion's global headquarters is situated in close proximity to London's Heathrow airport: