2 Firms Rep Quad-C's AIT Exit In $1.2B Recapitalization
By McCord Pagan (March 17, 2021, 2:28 PM EDT) -- Quad-C Management said Wednesday it will sell its stake in shipping business AIT Worldwide Logistics Inc. to fellow private equity firm The Jordan Co. as part of a recapitalization worth more than $1.2 billion, in a deal guided by White & Case and Kirkland.
The new backing from TJC will help Chicago-based AIT continue its growth and in a way that helps serve its more than 6,000 customers, according to separate statements on the deal.
"TJC has proven success partnering with companies in our industry, and their international expertise will provide a distinct advantage for sustained organic growth and future acquisitions...
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