AIT Worldwide acquires Miami freight company GSDMIA
The deal will help the buyer improve its trade support between the U.S., Latin America, Europe and Asia.
Story Highlights AIT Worldwide Logistics acquires assets of Miami-based freight forwarder GSDMIA.
Acquisition aims to improve AIT's trade lanes between US, Latin America, Europe, and Asia.
GSDMIA co-founders will join AIT as sales and station managers.
Global supply chain business AIT Worldwide Logistics finalized an agreement to acquire the assets of GSDMIA, a freight forwarder company based in Miami.
The financial terms of the deal were not disclosed.
Headquartered in Chicago, AIT Worldwide provides logistics services to help businesses move their goods into international markets via air, sea and ground. It has more than 150 locations across North America, Europe, the Middle East and North America.
GSDMIA ships commodities across the world, including commercial HVAC equipment, cryptocurrency data servers and items for the cosmetics industry. AIT said purchasing GSDMIA's assets will help the company improve its trade lane support between the U.S., Latin America, Europe and Asia.
'I'm delighted to welcome the team to our network and look forward to working together to grow AIT's reach and service reputation across the globe," AIT Chief Development Officer Ray Fennelly said in a statement.
Fennelly was appointed CDO in January. He is focused on growing the company through acquisitions and overseeing those transactions. Earlier this year AIT purchased another freight forwarder, St. Louis-based Krupp Trucking, as part of that expansion.
GSDMIA co-founders Wenzel Lewinsky and Joao Rios will join AIT as sales manager and station manager. They are merging its Miami office with AIT's local base. The business previously operated as an independent contractor for another larger freight forwarder.
'AIT's scale of purchasing power, carrier relationships, and advanced shipping technology will allow us to take the tailored, value-added services we're known for to an even higher level,' Rios said.
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