UPS Acquires Freightex Ltd. To Accelerate Expansion Of U.K. And European Truckload Brokerage Business

NEWS RELEASE
Media Contact: Steve Gaut
+14048288787 / [email protected]​

​UPS Acquires Freightex Ltd. To Accelerate Expansion Of U.K. And European Truckload Brokerage Business

UPS (NYSE: UPS) today announced the purchase of Freightex, a U.K.-based asset-light provider of truckload, less-than-truckload, specialized and refrigerated over-the-road services. The acquisition immediately establishes UPS’s presence in the growing U.K. and European third-party logistics (3PL) over-the-road brokerage transportation market and launches a new global and regional UPS growth platform from an established base of customers and carriers.

The transaction follows UPS’s acquisition of Coyote Logistics in August 2015.  Coyote is a leading truckload brokerage provider in North America.  Coyote and Freightex business models are complementary and UPS expects to share the best system technologies, business processes, as well as leverage customers and carriers across the two units.  Terms of the January 3rd, 2017 transaction were not disclosed.

“The U.K. and Europe are strategic 3PL freight brokerage growth markets for UPS and there is significant cross border opportunity,” said Alan Gershenhorn, UPS Chief Commercial Officer.  “This acquisition provides UPS customers an immediate, knowledgeable and competitive U.K. and European presence.  We intend to align Freightex with Coyote for greater efficiency and continue to invest for further growth.”

Read Full Announcement (via UPS)