Wabash Accelerates E-Commerce Solutions with New Joint Venture with Fernweh Group
October 26 2023 - 6:55AM
Wabash (NYSE: WNC), the innovation leader of connected solutions
for the transportation, logistics and distribution industries,
today announced a significant expansion of its Wabash Parts
distribution network and Trailers as a Service (TaaS)℠ capabilities
through a strategic joint venture with Fernweh Group LLC aimed at
enhancing the company’s e-commerce platform and partner ecosystem.
Wabash and Fernweh, an investment firm specializing in the
industrial technology sector, have entered into a 49:51 joint
venture that will 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. Ayna.AI will serve as
the implementation partner for the joint venture as it embarks on a
journey to scale-up over the coming years.
“The transportation, logistics and distribution industry
continues to experience a rapid pace of change,” said Brent Yeagy,
Wabash president and chief executive officer. “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.”
The initial growth of the digital platform will be through the
continued expansion of parts availability at parts.onewabash.com,
scaling of TaaS capabilities, as well as new value-added services
for dealers and customers that may include new bespoke partnerships
with technology or logistics providers.
Wabash’s TaaS offering, designed to give carriers and shippers
the capacity they need to maximize operational and freight
efficiency, provides access to trailers and maintenance and repair
services through the company’s extensive dealer channel and parts
distribution network.
Fernweh was selected for this joint venture because of their
experience working with industrial companies looking to expand
digital capabilities as well as their unique Engaged Investor
Operator Model. The partnership allows Fernweh and Wabash to
experiment with the speed of a start-up firm and the knowledge base
of an entrenched industry leader.
“I would like to extend a sincere thank you to the Wabash team
for trusting us as their partner to scale this platform,” said Nick
Santhanam, Fernweh chief executive officer and co-author of The
Titanium Economy: How Industrial Technology Can Create a Better,
Faster, Stronger America. “We see the digital platform as the next
evolution in Wabash’s TaaS offering, adding value to all
stakeholders by connecting Wabash’s dealers, customers and
suppliers to facilitate interactions across the transportation
ecosystem in a one-stop shop. We look forward to helping Wabash
accelerate its technology roadmap by expanding partnerships with
third parties in the logistics ecosystem that reduce customer and
supplier friction in the exchange of services and solutions.”
About Wabash: Changing How the World Reaches
YouWabash (NYSE: WNC) is the visionary leader of connected
solutions for the transportation, logistics and distribution
industries that is Changing How the World Reaches You®.
Headquartered in Lafayette, Indiana, the company enables customers
to thrive by providing insight into tomorrow and delivering
pragmatic solutions today to move everything from first to final
mile. Wabash designs, manufactures, and services a diverse range of
products, including: dry freight and refrigerated trailers, flatbed
trailers, tank trailers, dry and refrigerated truck bodies,
structural composite panels and products, trailer aerodynamic
solutions, and specialty food grade processing equipment. Learn
more at onewabash.com.
About Fernweh Group LLC Fernweh is an
investment firm led by leaders from global institutions with prior
experience working with companies in the industrial and industrial
technology sectors on strategy, M&A, and operational
transformation. Fernweh believes that the mid- and small-cap
industrial and industrial technology sectors are the backbone of
the economy and the engine for its growth. By combining management
capability, operational and strategic transformation support, and
capital for each company’s unique context, history, and needs,
Fernweh aims to be a builder of businesses and create value for all
stakeholders. Fernweh’s CEO co-authored the book on the industrial
technology sector “Titanium Economy”, which has been on the WSJ
best seller list. Learn more at fernweh.com.
Investor Contact:Ryan ReedSenior Director,
Corporate Development & Investor RelationsWabash (765)
490-5664ryan.reed@onewabash.com
Media Contacts:Dana StelselDirector,
CommunicationsWabash(765) 771-5766dana.stelsel@onewabash.com
Dan FlynnPresident, General Counsel Secretary & Chief
Compliance OfficerFernweh Group LLC(949)
874-7502dan.flynn@fernweh.com
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