AIT Worldwide Logistics Announces Management Buyout
ITASCA, ILLINOIS (May 14, 2012) – AIT Worldwide Logistics is proud to announce co-founders Dan Lisowski and Steve Leturno have sold majority ownership of the company in a friendly management buyout (MBO) to the newly created board of directors headed by Vaughn Moore, President and CEO, with Executive Vice Presidents Keith Tholan, Ray Fennelly and Joe Kayser. The acquisition was finalized on May 4, 2012.
“Our management group intimately knows and cares about our co-workers,” said Lisowski. “They understand AIT's philosophical principles and embrace the company's business plan. These factors eased our minds in making the emotionally charged decision to sell AIT.”
As the final stage of a transition that started in 2010 with Moore being named AIT’s president, the MBO heralds the beginning of the next chapter in the company’s history. Commenting on the buyout, Moore signaled the leadership’s intention to enthusiastically pursue new business opportunities. “Our focus is to vigorously grow AIT by expanding our existing services and vertical markets while also seeking opportunities in new lines of business,” he said.
Moore also stressed the management team’s dedication to the core values of the organization, promising, “We remain committed to our tradition of financial health and stability. Just as importantly, we will carry on the entrepreneurial spirit and family focus that are the cornerstones of AIT’s culture.”
In closing, Moore remarked, “The management team is humbled by this momentous occasion.” He continued, “We share a passionate belief in our company. We believe in AIT’s vision. We believe in our organization’s culture. We believe in the boundless opportunities ahead. Most of all, we believe in the excellence and dedication of our co-workers.”
About AIT
As a world-class global transportation and logistics provider, AIT Worldwide Logistics designs tailored transportation solutions by ground, air, ocean and rail for the unique applications and delivery service requirements of customers across the globe.
Founded in 1979, AIT has since grown into an enterprise spanning 41 global locations and over 190 global service centers. With more than 30 years of providing service excellence to over 5,000 active accounts and vertical markets including government, home delivery, life sciences, perishables and retail logistics, AIT provides flexible, cost-effective and value-added services to enhance supply chain efficiencies.