A near £60m-turnover logistics business has been acquired by US counterpart, providing an exit for LDC.
AIT Worldwide Logistics has snapped up Northampton-headquartered Panther Logistics for an undisclosed sum.
Panther's existing management team will remain in place, while commercial director Gary McKelvey will become managing director.
The new ownership will allow Panther to continue to invest in its operations and develop new service innovations to support its customers.
The company specialises in the retail and ecommerce sectors and its customers include Wayfair, Silentnight, Dunelm, Maze, Decathlon and Habitat.
Panther Logistics chief executive Colin McCarthy said: "Becoming part of AIT’s expansive global network provides a springboard for further growth and investment.
"It is a hugely exciting development in Panther’s journey and one which will mark a new era for the business for the benefit both our customers and employees alike.
"With the growth in online shopping continuing to escalate at unprecedented levels, the quality of delivery has become a key differentiator for many retailers and a major driver for consumers.
"Customer experience is therefore vital. Everything we do is designed with the end customer in mind and we aim to make delivery as easy and convenient as possible.
“Our commitment to service excellence has always been paramount and will continue to form the bedrock of our operation as we enter this latest chapter in the Panther success story."
AIT president and chief executive Vaughn Moore added: "I am thrilled to add Panther’s renowned two-man delivery professionals to our growing organization and wish them all a warm welcome to the team.
"I'm looking forward to the results of blending subject matter experts between our two companies and building off each other’s best practices, particularly in the booming e-commerce space."
The company also has sites in Preston, Normanton, Peterlee, Gateshead, Taunton, Bristol, Normanton, Watford and Bracknell.
The news comes after the business published documents in August revealing that a turnover of £58.1m and pre-tax profits of £4.8m for its year to 31 December 2019.
LDC’s Midlands team originally invested in 2016 as part of a £17m management buyout, backing McCarthy and his leadership team.
Chicago-based AIT is a global transportation management leader, operating from more than 75 locations in Asia, Europe and North America.
Rob Schofield, director in LDC’s Midlands team, said: "Panther has been a strong growth story for LDC and it has been a pleasure working with Colin and the team.
"Colin immediately came across as a highly capable and driven business leader when we first met him.
"He has built a high-quality management team, a great business and had real vision for Panther centred on superior service and responsiveness to the client – he just needed the capital and strategic support from a professional board to move forward at pace.
"This is a great example of how private equity investment can turbo-charge a business whilst staying true to its values and principles."
The shareholders were advised by Arrowpoint Advisory and Eversheds Sutherland.