Logistics equipment provider Wabash on Thursday announced it will launch a joint venture with investment firm Fernweh Group LLC to drive a “significant expansion” of its Wabash Parts distribution network and Trailers as a Service (TaaS) capabilities and to enhance the company’s e-commerce platform and partner ecosystem.
According to Indiana-based Wabash, the new business is intended to accelerate Wabash’s development and growth of an end-to-end digital platform that enhances the overall experience for dealers, customers and suppliers through the ease, speed and convenience of a connected partner ecosystem. The new unit will use artificial intelligence and analytics provider Ayna.AI as an implementation partner for the joint venture as it embarks on a journey to scale-up over the coming years.
Under terms of the deal, Wabash will have a 49% interest and California-based Fernweh will hold a 51% share.
“The transportation, logistics and distribution industry continues to experience a rapid pace of change,” Brent Yeagy, Wabash’s president and CEO, said in a release. “In 2020 we made a strategic pivot to transform the company so Wabash would be ready to meet the needs of the future, including shifting resources to lead the end-to-end digital transformation of our industry. This joint venture with Fernweh is the next step in that transformation and will allow Wabash to experiment, learn and iterate with speed.”
In recent weeks, Wabash has also ramped up production in a new dry van trailer manufacturing facility in Indiana, and announced long-term suppliers to provide the raw materials.