M&A boom continues: UPS buys Coyote Logistics for $1.8 billion
UPS has completed the closing of the acquisition of Coyote Logistics, a technology-driven, non-asset based truckload freight brokerage company.
The $1.8 billion acquisition adds large scale full-truck-load (FTL) and other transportation management services to the UPS portfolio. The company expects to benefit from synergies in purchased transportation, backhaul utilisation, cross selling to customers, as well as technology systems and industry best practices.
David Abney, UPS Chief Executive Officer: “Coyote is a transportation and logistics innovator which has changed traditional business models to serve their customers in new, unique and more satisfying ways.
“We will provide our combined customer base with a portfolio of seamless supply chain solutions from multi-modal freight shipments to small-package delivery. We are excited to welcome the talented Coyote team to UPS,” he continued.”
Coyote will operate as a wholly owned subsidiary of UPS under the leadership of CEO Jeff Silver. Silver will report to Alan Gershenhorn, UPS chief commercial officer.
Coyote Logistics, now a UPS subsidiary, is headquartered in Chicago, IL, and was founded in 2006 and is one of the most innovative, fast-growing third-party logistics (3PL) service providers in North America. Coyote offers services for all consultative, executional, and transactional supply chain needs. Coyote arranges transportation for more than 6,000 loads per day for shippers of all sizes and industries, from Fortune 100 companies to small businesses.
UPS is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the web at ups.com® and its corporate blog can be found at longitudes.ups.com.