Illinois-based AIT Worldwide Logistics has acquired Panther Logistics, a U.K.-based final-mile provider specializing in white-glove home deliveries in the e-commerce and retail sectors.
AIT purchased Panther from U.K. private equity firm LDC, which backed a management buyout in 2016. The price was not disclosed.
“The team of logistics experts at Panther is renowned in the United Kingdom for their commitment to providing fast, quality home delivery services,” AIT Chief Operating Officer Keith Tholan said in a statement on Tuesday. “It was clear very quickly that bringing the experts at Panther into the AIT network would be a boon for our customers looking for affordable, flexible and reliable residential options — particularly for e-Commerce deliveries, as that market continues to boom.”
The acquisition expands AIT’s global footprint, adding eight U.K. locations and about $80 million in annual revenue. The deal marks the company’s first acquisition since its 2019 purchase of Los Angeles freight forwarder Unitrans International Corp.
It comes as the U.K. forges ahead with trade deals ahead of its exit from the EU. On Saturday, the Canadian and British governments announced an agreement that preserves the trade relationship they had under an EU pact.
The U.K., meanwhile, is attempting to hash out the terms of its Brexit trade agreement with the EU itself.
While uncertainty looms over the future of the U.K.’s international trade agreements, e-commerce demand continues to rise during the COVID-19 pandemic.
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