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Jan 10 2017

UPS buys Freightex brokerage business

UPS has bought Freightex, the asset-light provider of truckload, and less-than-truckload services, for an undisclosed sum.

 

“The UK 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 UK and European presence.

 

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.

 

“We intend to align Freightex with Coyote for greater efficiency and continue to invest for further growth.”

 

Freightex has eight locations across the UK and the continent and uses an asset-light model to match customers’ outgoing freight shipments with available trucking capacity in its network of carriers. Read more

 

 

Source: LOGISTICS MANAGER