SAN JOSE, CA - Fernweh Group LLC, an investment firm specializing in the industrial technology sector, today announced a strategic joint venture with Wabash (NYSE: WNC), the innovation leader of connected solutions for the transportation, logistics, and distribution industries. The joint venture aims to enhance Wabash’s e-commerce platform and partner ecosystem. Ayna.AI will serve as the implementation partner as the joint venture embarks on a journey to scale up over the coming years.
The 51:49 joint venture was set up to enable a significant expansion of Wabash’s Wabash Parts distribution network and Trailers as a Service (TaaS) capabilities. This is expected 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.
Fernweh was selected for this joint venture because of their experience in 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 at the speed of a start-up firm and with 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 coauthor 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 road map by expanding partnerships with third parties in the logistics ecosystem that reduce customer and supplier friction in the exchange of services and solutions.”
“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, and introduction of 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 is an investment firm headed 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 coauthored Titanium Economy, a book on the industrial technology sector that has been on the WSJ best-seller list. Learn more at fernweh.com.
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.
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