Strategic deal will position AIT as key player in European road transport, energy sectors
AIT Worldwide Logistics, a leading provider of global supply chain solutions, has entered into a binding purchase agreement to acquire Lubbers Logistics Group, a European logistics company specializing in high-value, complex, and time-sensitive transport services. The purchase will serve as a significant milestone for AIT as the company continues to expand its global reach and enhance its offerings in road transportation, freight forwarding, and project cargo logistics, particularly in the energy sector.
Over the past century, Lubbers, headquartered in Schoonebeek, Netherlands, has established itself as a leading provider of top-tier transportation solutions for high-value segments, specializing in road transport, project cargo and global freight forwarding services. With more than 377 employees working across nine road transport hubs and nine freight locations, Lubbers boasts an extensive network of strategically located facilities throughout Europe.
“Lubbers’ robust one-stop shop approach and their long-standing relationships with industry-leading customers make them an excellent fit for AIT,” said AIT’s Chief Business Officer, Greg Weigel. “We see significant potential for their broad network by growing freight forwarding operations and energy sector expertise to further enhance AIT’s world-class customer experience. We’re also excited to boost our end-to-end solutions with middle mile service in Europe as a counterpart to our recently launched U.S. Middle Mile Network.”
Lubbers’ network will add 18 new offices to AIT’s existing global network of more than 125 locations, while expanding AIT’s footprint to four new countries: Denmark, Norway, Romania and Turkey. Lubbers also has facilities in Germany, Italy and the United Kingdom.
“Joining forces with AIT Worldwide Logistics is a strategic move that will allow us to continue providing exceptional service to our clients while expanding our reach on a global scale,” said Lubbers’ CEO, Gary Roche. “AIT’s strong track record and commitment to customer service align with our values, and we look forward to a bright future together.”
“We are looking forward to welcoming Lubbers to the AIT network,” said AIT’s Chairman and CEO, Vaughn Moore. “This deal will enhance our position in Europe and bolster our presence in the energy sector, allowing us to better serve current customers while creating new opportunities. Lubbers’ customer-centric approach to business, as well as their reputation for excellent quality aligns perfectly with AIT’s culture.”
AIT’s acquisition of Lubbers is expected to be finalized by the end of 2023 and will be subject to obtaining customary regulatory approvals. Terms have not been disclosed.
Kirkland & Ellis LLP and NautaDutilh N.V. are both serving as legal counsel to AIT on the acquisition. Nielen Schuman B.V. is serving as the financial advisor to Lubbers. Loyens & Loeff N.V. is serving as legal counsel to Lubbers.