LAFAYETTE, Ind., Oct. 26, 2023 (GLOBE NEWSWIRE) -- 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 You
Wabash (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 Reed
Senior Director, Corporate Development & Investor Relations
Wabash
(765) 490-5664
ryan.reed@onewabash.com
Media Contacts:
Dana Stelsel
Director, Communications
Wabash
(765) 771-5766
dana.stelsel@onewabash.com
Dan Flynn
President, General Counsel Secretary & Chief Compliance Officer
Fernweh Group LLC
(949) 874-7502
dan.flynn@fernweh.com
