AIT Worldwide Logistics Sold to New Board, Top Managers

May 30, 2012 9:30 AM, EDT

AIT Worldwide Logistics said that co-founders Dan Lisowski and Steve Leturno have sold a majority of the company to a new board headed by AIT President Vaughn Moore and executive vice presidents Keith Tholan, Ray Fennelly and Joe Kayser.

The buyout was the final stage of a transition for the third-party logistics company that started in 2010, when Moore was appointed AIT’s president, the company said ealier this month. Terms were not disclosed.

AIT Worldwide, Itasca, Ill., generated $338 million in 2011 revenue, company officials told Transport Topics in a statement.

“AIT will aggressively continue to expand our presence in the market by opening new offices across North America and broadening our service offerings,” Moore said.