UK-based freight brokerage Freightex has been acquired by UPS as part of its strategy to grow the company’s presence in the European third-party logistics (3PL) transportation market. The terms of the transaction have not been disclosed.
The transaction follows UPS’s acquisition of North American truckload brokerage provider Coyote Logistics in August 2015. UPS expects to share the best system technologies, business processes, as well as leverage customers and carriers across the two units.
The European 3PL market was forecast to reach US$174bn by the end of 2016, with more than 500,000 road freight carriers currently operating in Europe.
Alan Gershenhorn, chief commercial officer, UPS, said, “The UK and Europe are strategic 3PL freight brokerage growth markets for UPS and there is a significant cross border opportunity. 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.
“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. Freightex’s proven expertise and strong regional network, combined with Coyote’s technology, people, processes, and service reputation, will present a best-in-class solution for customers.”
As well as the movement of standard goods, Freightex also handles freight from shippers who require temperature-controlled, specialized, and other types of customized equipment. The company has eight locations across the UK and Europe and uses an asset-light model to match customers’ outgoing freight shipments with its network of carriers.
Tim Phillips, CEO of Freightex, said, “We are excited to join the UPS organization and Coyote brokerage operations. UPS and Coyote have industry-leading technology, a no-excuses customer service culture, and a proven record of success. We will improve our efficiency through Coyote’s technology and use of the UPS network, while continuing to out-service the competition and provide results that customers count on us to deliver.”
Phillips will continue to lead the Freightex business, which will operate as a wholly-owned subsidiary of UPS.
UPS has successfully tested a home delivery drone that launches from the top of a UPS package car while the driver continues separate deliveries.
The drone autonomously delivered a package to a home, returning to the vehicle upon successful completion. The test was conducted in Lithia, Florida, with the help of Ohio-based battery-electric truck and drone developer Workhorse Group.
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