Atlanta-based third-party logistics (3PL) provider BWT Logistics has acquired International Express Trucking (IET), a North Carolina-based transportation and warehousing company. The deal expands BWT’s warehouse network and service offerings as it pursues national growth.
Acquisition Expands BWT’s Warehouse Footprint and Transportation Capabilities
IET offers a range of logistics services including air and ocean freight, truckload transportation, and warehouse fulfillment. The company’s asset-light model includes six power units and 12 drivers, providing mainly regional reach.
For BWT Logistics, the acquisition brings IET’s dedicated and multi-tenant warehouses into its rapidly expanding fulfillment network. BWT now operates over 30 warehouse locations across the eastern U.S. It also gains IET’s transportation capabilities to support its contract logistics customers.
According to BWT President Josh Putterman, “This is an important step in our long-term expansion plan. We will continue to pursue strategic partnerships and acquisitions to extend our geographical and service reach.”
No financial terms were disclosed for the private transaction between the two logistics providers.
New Leadership as IET Founder Retains Ownership Stake
As part of the deal, IET President and CEO Howard Shope will join BWT as a senior executive. Shope will serve as SVP of Operations while retaining a meaningful stake in IET’s future performance.
Shope expressed enthusiasm about aligning his company’s growth with the new parent organization and its private equity backer. “IET’s customers and employees will benefit from access to BWT’s national network of warehouses and transportation, as well as its strengthened suite of services and technology,” he said.
Investment Firm Supporting BWT’s Growth Trajectory
Atlanta-based private equity firm Bluejay Capital Partners backs BWT Logistics as part of its investment strategy in transportation and logistics acquisitions. Bluejay aims to provide expansion capital to supply chain providers pursuing scale through consolidation or geographical extension.
Managing Partner Josh Putterman says BWT still has ample room to keep growing, even after completing its second purchase this year. “We will continue to support the team in its geographical and service line growth through both organic and strategic partnerships,” he commented after announcing the IET deal.
With two specialist logistics providers now working as one, BWT appears poised to compete for larger contracts with its expanded capabilities. It also ends 2023 better positioned to support customers throughout the eastern half of the U.S.
By leveraging their expertise and resources, Lading Logistics aims to provide efficient and reliable international shipping and logistics solutions for their clients.
