ITASCA, Ill., Nov. 17, 2021
The deal creates a robust omnichannel distribution solution by merging AIT's world-class freight forwarding with Select's extensive final mile delivery and assembly services
ITASCA, Ill., Nov. 17, 2021 /PRNewswire/ -- Global supply chain solutions leader AIT Worldwide Logistics has reached an agreement to acquire New York City-based Select Express & Logistics, a leading 3PL arranging final mile delivery and assembly services for big and bulky consumer and commercial goods, including furniture, fitness equipment, home electronics, outdoor appliances and accessories, and more.
With nearly 400 teammates in 60 locations—13 offices supported by 47 cross-dock facilities across the United States—Select administers the delivery of more than 1.7 million shipments per year by harnessing an elite network of 1,200-plus carriers. The 3PL also boasts one of the largest networks of assembly technicians in the United States for both fitness equipment and outdoor structures, performing over 600,000 assembly and repair jobs annually.
Ninety percent of deliveries managed by Select are completed using mobile app technology, which provides their customers with real-time visibility and proof of delivery. Likewise, Select's technology allows retailers to offer delivery appointment scheduling at the point of sale, providing a seamless experience that reduces buyer's remorse.
The complementary integration of AIT's robust global freight forwarding operations with Select's expansive final mile service will create a seamless first, middle and final mile solution in the United States. Access to final mile capacity and complex assembly teams will dramatically expand for AIT customers while Select customers will be connected with AIT's global freight forwarding expertise. With the acquisition of Select, AIT will represent a single point of access for importing heavy, bulky goods into the United States, providing nationwide forward stocking, and ultimately delivering omnichannel final mile service direct to consumers from customers' distribution centers, drop shippers or brick-and-mortar stores.
In an era with capacity being the foremost challenge for global supply chains, Select's access to more than 1,100 driver teams operating both dedicated and on-demand equipment will minimize capacity constraints and alleviate pressure on final mile delivery times for AIT customers.
"We are delighted to welcome the Select team to AIT. Customers with omnichannel distribution initiatives will benefit from our new unified solution that provides a truly global glass pipeline when importing goods from overseas to be delivered and assembled in consumers' homes and commercial businesses," said AIT President and CEO, Vaughn Moore. "Most importantly, Select's culture—especially the way they value their teammates and treat their clients—is a great fit. Confirming these shared core values is a prerequisite before AIT will even consider a company for acquisition."
Select Express & Logistics Chief Executive Officer, Jay Waldman, said, "On behalf of our entire team, we are thrilled and honored to join forces with AIT. For 20 years, Select has been providing our customers with the highest level of final mile delivery and assembly services for big and bulky goods. Combining our final mile expertise with AIT's global freight capabilities will enable us to better serve our customers by managing the movement of product from the factory floor to consumers' homes."
AIT Worldwide Logistics' acquisition of Select Express & Logistics is expected to close December 17, 2021. It will be the third acquisition for AIT in 2021, following previous deals to purchase customs broker Multimodal International and freight forwarder Intelligent Logistics. Terms of the agreement have not been disclosed.
Stifel acted as financial advisor to AIT on the transaction. Kirkland & Ellis LLP served as legal counsel to AIT. The Transportation & Logistics Investment Banking Group of Raymond James & Associates, Inc. served as financial advisor to Select. Norton Rose Fulbright U.S. LLP served as legal counsel to Select.
About AIT Worldwide Logistics
AIT Worldwide Logistics helps companies grow by expanding access to markets all over the world where they can sell and procure their raw materials, components and finished goods. For more than 40 years, the Chicago-based transportation management leader has relied on a consultative approach to build a global network and trusted partnerships in nearly every industry, including aerospace, e-commerce, food, government, healthcare, life sciences and retail. Backed by scalable, user-friendly technology, AIT's flexible business model delivers precisely tailored supply chain solutions for sea, air and ground freight—on time and on budget. With expert teammates at more than 100 worldwide locations in Asia, Europe and North America, AIT's full-service options also include customs clearance, warehouse management and white glove services. Learn more at www.aitworldwide.com.
At AIT, we vigorously seek opportunities to earn our customers' trust by delivering exceptional worldwide logistics solutions while passionately valuing our co-workers, partners and communities.
About Select Express & Logistics
Headquartered in New York, NY, Select Express & Logistics specializes in white glove delivery and assembly of heavy goods, leveraging a technology-enabled network of technicians to manage complex, in-home assembly requirements. Established as a New York courier business in 2001, Select Express has grown to become a national player in the 3PL sector, providing final mile services in all fifty states and Canada along with complementary transportation and distribution capabilities. The company serves a variety of retailers, e-commerce players, and businesses across a wide array of end markets, including furniture and home goods, sporting goods equipment, healthcare, and home improvement, among others. For more information, please visit www.selectexp.com.
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