Deal expands the company’s contract logistics capabilities and footprint in North Carolina
BWT Logistics (“BWT”), a national B2B warehousing and transportation business, announced its acquisition of International Express Trucking (“IET”), a regional 3PL leader in the North Carolina market. The deal expands BWT’s warehouse network in a fast-growing market and provides additional contract logistics capabilities to its end-to-end supply chain portfolio. BWT is a portfolio company of Bluejay Capital Partners, LLC (“Bluejay Capital”), a specialist in transportation and logistics investing. Terms of the transaction were not released.
“We are impressed by IET’s people, capabilities and processes, and look forward to welcoming Howard Shope and his team into the BWT family,” said Winston McDonald Jr., President and CEO of BWT. “Howard has built an incredible business that shares our mission of providing great service to customers across a full suite of logistics solutions.”
Shope, President and CEO of International Express, will join BWT as a Senior Vice President of Operations and retains a meaningful ownership stake in the business.
“My team and I are excited to partner with BWT and Bluejay in this new chapter of growth for our company. 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,” said Shope.
Josh Putterman, Managing Partner at Bluejay Capital Partners, said; “This is an important step in our long-term expansion plan for BWT. We will continue to support the team in its geographic and service line growth through both organic and strategic partnerships. Bluejay is thrilled by the potential that IET brings to the BWT platform.”
Bluejay Capital financed the transaction with Argosy Private Equity, Southfield Mezzanine, Spring Capital Partners and Key Bank.
