AIT Worldwide Logistics Announces Leveraged Buyout
Board of Directors Created; Company Poised for Bold Future Growth
AIT Worldwide Logistics is proud to announce co-founders Dan Lisowski and Steve Leturno have sold majority ownership of the company in a friendly leveraged buyout (LBO) 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 LBO 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.”
An official press release is available to media outlets upon request.