Private equity firm Thoma Bravo announced Tuesday that is has entered into an agreement to acquire 3PL WWEX Group. Following the acquisition, Thoma Bravo will combine WWEX Group with a current portfolio company, Auctane. The deal will merge WWEX Group’s $5 billion freight brokerage platform with a leader in intelligent shipping software, significantly expanding WWEX Group’s AI-enabled capabilities.
Financial terms of the deal were not disclosed. The transaction is expected to close in the second quarter.
“By integrating Auctane’s cloud-based software, global carrier connectivity and intelligent automation capabilities with WWEX Group’s extensive logistics expertise and powerful commercial engine, the combined company will seamlessly connect checkout to doorstep across parcel, LTL, truckload and global shipping,” a news release said.
WWEX Group brands include parcel and freight service providers like Worldwide Express, GlobalTranz, Unishippers, JEAR Logistics and BLX Logistics.
Auctane’s shipping and fulfillment solutions include ShipStation, Stamps.com, Metapack and Packlink.
WWEX Group is currently owned by a group of investors, including CVC Capital Partners, Providence Equity Partners, Ridgemont Equity Partners and PSG. CVC and other investors will roll a portion of their equity, retaining a minority interest in the combined entity.
“Auctane’s category-defining shipping software and WWEX Group’s scaled parcel and freight service offerings create an integrated solution with the data, distribution and volume necessary to help customers drive smarter decision-making and superior execution across the logistics lifecycle,” said Brian Jaffee, a partner at Thoma Bravo. “Together, we believe the company is uniquely positioned to define the next generation of AI-enabled logistics.”
WWEX Group’s network includes more than 2,300 sales professionals helping over 130,000 customers move 70 million-plus shipments annually.
“By combining WWEX Group’s brands and our position as a leading provider of parcel and freight services with Auctane’s global ecosystem of e-commerce shipping software, we are creating a platform of tremendous potential,” said WWEX Group CEO Tom Madine. “Our customers will benefit from deeper technology capabilities and the expanded resources of a combined company built to support their growth.”
J.P. Morgan and Morgan Stanley are joint lead advisers to WWEX Group on the transaction. Goldman Sachs and UBS Investment Bank are also advising WWEX Group on the deal.
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