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Personal fairness agency Thoma Bravo introduced Tuesday that’s has entered into an settlement to accumulate 3PL WWEX Group. Following the acquisition, Thoma Bravo will mix WWEX Group with a present portfolio firm, Auctane. The deal will merge WWEX Group’s $5 billion freight brokerage platform with a pacesetter in clever delivery software program, considerably increasing WWEX Group’s AI-enabled capabilities.
Monetary phrases of the deal weren’t disclosed. The transaction is anticipated to shut within the second quarter.
“By integrating Auctane’s cloud-based software program, international provider connectivity and clever automation capabilities with WWEX Group’s intensive logistics experience and highly effective business engine, the mixed firm will seamlessly join checkout to doorstep throughout parcel, LTL, truckload and international delivery,” a information launch mentioned.
WWEX Group manufacturers embrace parcel and freight service suppliers like Worldwide Categorical, GlobalTranz, Unishippers, JEAR Logistics and BLX Logistics.
Auctane’s delivery and achievement options embrace ShipStation, Stamps.com, Metapack and Packlink.
WWEX Group is presently owned by a bunch of buyers, together with CVC Capital Companions, Windfall Fairness Companions, Ridgemont Fairness Companions and PSG. CVC and different buyers will roll a portion of their fairness, retaining a minority curiosity within the mixed entity.
“Auctane’s category-defining delivery software program and WWEX Group’s scaled parcel and freight service choices create an built-in answer with the info, distribution and quantity obligatory to assist prospects drive smarter decision-making and superior execution throughout the logistics lifecycle,” mentioned Brian Jaffee, a associate at Thoma Bravo. “Collectively, we consider the corporate is uniquely positioned to outline the subsequent era of AI-enabled logistics.”
WWEX Group’s community contains greater than 2,300 gross sales professionals serving to over 130,000 prospects transfer 70 million-plus shipments yearly.
“By combining WWEX Group’s manufacturers and our place as a number one supplier of parcel and freight companies with Auctane’s international ecosystem of e-commerce delivery software program, we’re making a platform of great potential,” mentioned WWEX Group CEO Tom Madine. “Our prospects will profit from deeper expertise capabilities and the expanded assets of a mixed firm constructed to assist their progress.”
J.P. Morgan and Morgan Stanley are joint lead advisers to WWEX Group on the transaction. Goldman Sachs and UBS Funding Financial institution are additionally advising WWEX Group on the deal.
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