In a significant development, BWT Logistics, a key player in warehousing and transportation, has successfully acquired International Express Trucking (IET). The announcement came on Tuesday, marking a pivotal moment for both entities.
IET’s Strong Footprint in 3PL Services
Lowell-based IET, a renowned 3PL firm, excels in air and ocean transportation, domestic trucking, and warehousing services. Operating on an asset-light model, the company has six power units and 12 drivers, according to the Federal Motor Carrier Safety Administration.
BWT’s Strategic Move: An Overview
Hailing from Atlanta, BWT is under the ownership of Bluejay Capital Partners, a major investor in transportation and logistics enterprises. The financial intricacies of the transaction, however, have not been disclosed.
Enthusiastic Endorsement from Howard Shope
Howard Shope, the President and CEO of IET, expressed enthusiasm about the partnership, stating, “My team and I are excited to partner with BWT and Bluejay in this new chapter of growth for our company.” Shope emphasized benefits for IET, highlighting access to BWT’s national network, transportation, and enhanced technology for customers and employees.
Strategic Objectives: BWT’s Expansion Plans
BWT seeks to expand its logistics portfolio and network through acquisition, including over 30 dedicated warehouses. Howard Shope will transition to BWT’s Senior VP of Operations, maintaining a substantial ownership stake in the operation.
A Game-Changing Acquisition: BWT Takes Over International Express Trucking
In a strategic move, BWT Logistics has successfully taken over International Express Trucking. This acquisition signifies a significant development in the logistics industry, with BWT expanding its reach and capabilities. The move strengthens BWT’s market position, enhancing logistics operations and improving services for clients. The takeover seamlessly integrates International Express Trucking’s assets, personnel, and expertise into BWT’s framework for a smooth transition. This strategic decision is likely to contribute to BWT’s growth and competitiveness in the dynamic logistics sector.
Strategic Vision: Bluejay Capital Partners’ Perspective
Josh Putterman, Managing Partner at Bluejay Capital Partners, emphasized the strategic significance of the move, stating, “This is an important step in our long-term expansion plan for BWT.” He further affirmed their commitment to supporting BWT’s growth through both organic expansion and strategic partnerships, indicating a comprehensive approach to geographic and service line expansion.
