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Uti buys Unigistix  Reprint permission
UTi Worldwide acquired contract logistics provider Unigistix from its principal shareholders, including lead investor Wynnchurch Capital Partners and Unigistix founder, George Markou, for an upfront cash payment of $74.5 million. The agreement includes potential additional payments over a two-year period of up to approximately $4.8 million for an earn-out based on the anticipated future growth of Unigistix. "UTi's acquisition of Unigistix marks another important extension of our contract logistics capabilities as we move toward becoming the primary logistics partner for more of our customers," said Roger I. MacFarlane, chief executive officer of UTi Worldwide. "Speaking on behalf of the entire management team, we are excited to become part of the global organization that UTi has built and look forward to contributing to the company's continued growth and success," said president and chief executive officer of Unigistix, Michael Dunlop, who will remain in his current leadership position. With approximately 290 full- and part-time employees, Unigistix operates from three facilities in the Toronto area, all of which feature fiber optic processing technology matched to Unigistix's proprietary software for planning, tracking and managing the physical movement of clients' products. The Unigistix acquisition expands UTi's operations in Canada, which provide local and global customers a full range of customized and integrated services, including order management, freight forwarding/customs brokerage, contract logistics and distribution, through nine locations in five cities throughout the country. BB&T Capital Markets represented the shareholders of Unigistix in this transaction.
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