UPS has acquired specialist international and temperature-controlled load broker Freightex for an undisclosed sum, and will merge it with Coyote Logistics – a similar business in North America that UPS acquired in August 2015.
Tim Phillips, Freightex chief executive, will remain with the business – which will operate as a wholly-owned subsidiary of UPS, which said that there was a “significant cross border opportunity” to “expand UPS’s existing carrier base to create more value for customers and carriers from the advantages of higher equipment and staff utilisation”.
UPS also said that Freightex customers would benefit from increased scale, reach and access to a wider shipping portfolio – which includes not just road but air – while UPS customers would benefit from a broker service that is “the most competitive option” in the UK and Europe.
Alan Gershenhorn, UPS chief commercial officer, said: “This acquisition provides UPS customers an immediate, knowledgeable and competitive UK and European presence. We intend to align Freightex with Coyote for greater efficiency and continue to invest for further growth.”
He added: “UPS has many existing customers who will benefit from UK and European transportation brokerage capabilities. We will provide added value, helping customers and carriers streamline operations and have simplified visibility through the same Coyote system that they use in North America.”