Tag: Europe

United Parcel Service is poised to make an acquisition in the UK, strengthening the US company’s position in one of Europe’s most fragmented package delivery markets. People familiar with UPS said the medium-sized deal could be announced as early as today, although they would not identify the British company involved. UPS declined to comment. The planned acquisition is believed to be in the package delivery sector, ruling out Exel, the large UK logistics group that has been linked with a takeover by UPS this year. The most likely candidates are all privately-owned companies, including ANC and Lynx Express.

In a move that will further strengthen its package delivery capabilities in the United Kingdom, UPS today announced an agreement to acquire LYNX Express Ltd., for USD96.5 million (GBP55.5 million) in cash. LYNX Express, one of the UK’s largest independent parcel carriers, is majority owned by the private equity firm Bridgepoint Capital (Nominees) Ltd. UPS expects to complete the transaction in the second half of 2005, subject to customary closing conditions. LYNX’s customers include some of the most recognised international brands across a broad range of industries, with company sales of USD295 million (GBP170 million) for the fiscal year ended Oct. 2, 2004.