The private equity-backed third party logistics provider (3PL) BWT Logistics today said it had acquired RAZR Logistics, a contract logistics and on-demand warehousing provider, from its parent company, Johnson Storage & Moving.
Terms of the transaction were not released, but Atlanta-based BWT said it financed the transaction with capital from Argosy Private Equity, Bluejay Capital Partners, Southfield and Spring Capital Partners. BWT is a portfolio company of Argosy and Bluejay. Following the sale, RAZR President Mike Griffin will retain a “meaningful ownership stake” in the business, and will join BWT as a senior vice president of sales.
According to BWT, the move expands its dedicated logistics solutions and brings added warehouse network capabilities and end-to-end supply chain services to more than 500 RAZR corporate customers in consumer products, retail, and manufacturing. It also brings the benefits of on-demand warehousing, which expands BWT’s ability to meet customers’ exact needs regardless of term or scale and expands its potential customer base.
“BWT has now completed its second significant acquisition, each of which has positively impacted the business and positioned the company to better service its customers going forward,” Seth Wilson, Partner at Argosy Private Equity, said in a release.
In the company’s previous acquisition, BWT bought International Express Trucking (IET), a regional 3PL in the North Carolina market.
