M&A Deal Summary

RXO Acquires Coyote Logistics

On June 23, 2024, RXO acquired transportation company Coyote Logistics from UPS for 1.0B USD

Acquisition Highlights
  • This is RXO’s 1st transaction in the Transportation sector.
  • This is RXO’s largest (disclosed) transaction.
  • This is RXO’s 1st transaction in the United States.
  • This is RXO’s 1st transaction in Illinois.

M&A Deal Summary
Date 2024-06-23
Target Coyote Logistics
Sector Transportation
Buyer(s) RXO
Sellers(s) UPS
Deal Type Divestiture
Deal Value 1.0B USD

Target

Coyote Logistics

Chicago, Illinois, United States
Coyote Logistics provides truckload brokerage services by utilizing an asset-light model to contract truckload shipments between shipping customers and trucking companies without directly owning any trucks. Coyote Logistics was formed in 2006 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

RXO

Charlotte, North Carolina, United States
Category Company
Sector Transportation
Revenue 3.9B USD (2023)
DESCRIPTION

RXO provides asset-light transportation solutions by offering tech-enabled truck brokerage services together with complementary solutions including managed transportation, freight forwarding, and last-mile delivery. The company combines massive capacity and cutting-edge technology to move freight efficiently through supply chains across North America. RXO is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Divestiture) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

UPS

Atlanta, Georgia, United States
Category Company
Founded 1907
Sector Transportation
Employees500,000
Revenue 91.0B USD (2023)
DESCRIPTION
Entrance to UPS' headquarters in Atlanta, Georgia.
Entrance to UPS' headquarters in Atlanta, Georgia.

UPS is a provider of logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. UPS serves more than 220 countries and territories worldwide. UPS was founded in 1907 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 5 of 5
Sector (Transportation) 2 of 2
Type (Divestiture) 5 of 5
State (Illinois) 1 of 1
Country (United States) 5 of 5
Year (2024) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-06 MNX Global Logistics

Long Beach, California, United States

MNX Global Logistics is a provider of express, supply chain, and freight services to customers primarily in the life sciences, entertainment, and aviation industries. MNX Global Logistics was founded in 1983 and is based in Long Beach, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-22 Estafeta

Cuauhtemoc, Mexico

Estafeta is a provider of integrated logistics solutions, operating an extensive domestic network to meet the supply chain needs of companies of all sizes. Estafeta was founded in 1979 and is based in Cuauhtemoc, Mexico.

Buy -
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