M&A Deal Summary

TJC Acquires AIT Worldwide Logistics

On March 17, 2021, private equity firm TJC acquired transportation company AIT Worldwide Logistics from Quad-C Management for 1.2B USD

Acquisition Highlights
  • This is TJC’s 7th transaction in the Transportation sector.
  • This is TJC’s 3rd largest (disclosed) transaction.
  • This is TJC’s 68th transaction in the United States.
  • This is TJC’s 7th transaction in Illinois.

M&A Deal Summary
Date 2021-03-17
Target AIT Worldwide Logistics
Sector Transportation
Buyer(s) TJC
Sellers(s) Quad-C Management
Deal Type Recapitalization
Deal Value 1.2B USD
Advisor(s) Harris Williams & Co. (Financial)
White & Case (Legal)

Target

AIT Worldwide Logistics

Itasca, Illinois, United States
website
AIT Worldwide Logistics is a global freight forwarder that helps its customers grow by expanding access to markets all over the world where they can sell and/or procure raw materials, components, and finished goods. AIT Worldwide Logistics was founded in 1979 and is based in Itasca, Illinois.

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Buyer(S) 1

Buyer

TJC

New York, New York, United States

website

Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.

DEAL STATS #
Overall 70 of 91
Sector (Transportation) 7 of 10
Type (Recapitalization) 3 of 4
State (Illinois) 7 of 10
Country (United States) 68 of 88
Year (2021) 1 of 10
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 Specialty Building Products

Duluth, Georgia, United States

Specialty Building Products is a distributor of specialty residential building products and provider of critical logistics solutions for the complex building products supply chain. SBP has entrenched market positions across high-growth product categories including exterior siding and trim, composite decking and railing, moulding and millwork, interior finish and engineered wood. Specialty Building Products is based in Duluth, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 Innoflight

San Diego, California, United States

Innoflight is a defense contractor that offers software-defined compact/ground radios, cryptographic and cyber secure systems and processing, networking and data storage avionics. Innoflight's competency is secure Command, Control, Communications and Computers (C4) systems designed through innovative implementation of modern Commercial Off-The-Shelf (COTS) technology. The result is modular, high performance, yet low Size Weight and Power (SWaP) systems at competitive prices. Innoflight was formed in 2004 and is based in San Diego, California.

Buy -

Seller(S) 1

SELLER

Quad-C Management

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
PE ASSETS 3.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quad-C Management is a generalist private equity firm that makes control investments in middle-market companies operating in a wide range of industries. Target sector's include building products, business-to-business services, consumer products, distribution/logistics, equipment rental, financial services, healthcare, light manufacturing, packaging, restaurants, security, and specialty chemicals. Quad-C's target investment size is $50 to $150 million in businesses valued between $100 and $500 million and with EBITDA greater than $10 million. Prospective transaction types include recapitalizations/family successions, management buyouts, and industry consolidations. Quad-C Management was founded in 1989 and is headquartered in Charlottesville, Virginia.

DEAL STATS #
Overall 40 of 47
Sector (Transportation) 3 of 4
Type (Recapitalization) 2 of 2
State (Illinois) 3 of 3
Country (United States) 37 of 42
Year (2021) 1 of 3
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-15 SEI Group

Huntsville, Alabama, United States

SEI Group is a major installer of fiberglass insulation, spray foam, cellulose, standing seam metal, gutters, fireplaces, garage doors, door hardware, CBUs, and mailboxes for single and multi-family homes, primarily in the Atlanta metropolitan area. SEI Group was founded in 1996 and is based in Huntsville, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-14 Apps Associates

Acton, Massachusetts, United States

Apps Associates is a global IT and business services organization that provides solutions for Cloud, Analytics, and Integration. Apps Associates is a rapidly growing, IT services business that specializes in implementing, optimizing, and maintaining complex ERP, business intelligence, and cloud applications. Apps Associates was founded in 2002 and is based in Acton, Massachusetts.

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