M&A Deal Summary

UPS Acquires MNX Global Logistics

On November 6, 2023, UPS acquired transportation company MNX Global Logistics from Quad-C Management

Acquisition Highlights
  • This is UPS’s 15th transaction in the Transportation sector.
  • This is UPS’s 9th transaction in the United States.
  • This is UPS’s 4th transaction in California.

M&A Deal Summary

Date 2023-11-06
Target MNX Global Logistics
Sector Transportation
Buyer(s) UPS
Sellers(s) Quad-C Management
Deal Type Add-on Acquisition
Advisor(s) Jefferies (Financial)
White & Case (Legal)

Target

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.

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Buyer(S) 1

Buyer

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 21 of 23
Sector (Transportation) 15 of 17
Type (Add-on Acquisition) 19 of 21
State (California) 4 of 4
Country (United States) 9 of 9
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-25 Happy Returns

Valencia, California, United States

Happy Returns is a U.S.-based software and reverse logistics company that enables frictionless, no-box, no-label returns for merchants and consumers. Happy Returns is based in Valencia, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-23 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.

Sell $1.0B

Seller(S) 1

SELLER

Quad-C Management

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 3.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quad-C Management is a generalist private equity firm that makes control investments in middle-market companies operating in a wide range of industries. Target sector's include building products, business-to-business services, consumer products, distribution/logistics, equipment rental, financial services, healthcare, light manufacturing, packaging, restaurants, security, and specialty chemicals. Quad-C's target investment size is $50 to $150 million in businesses valued between $100 and $500 million and with EBITDA greater than $10 million. Prospective transaction types include recapitalizations/family successions, management buyouts, and industry consolidations. Quad-C Management was founded in 1989 and is headquartered in Charlottesville, Virginia.


DEAL STATS #
Overall 46 of 47
Sector (Transportation) 4 of 4
Type (Add-on Acquisition) 13 of 13
State (California) 6 of 7
Country (United States) 41 of 42
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-15 Vortex

Houston, Texas, United States

Vortex is a trenchless solution provider in the water, sewer, and industrial marketplace. Its suite of services includes turnkey bypass and dewatering, large diameter structural relining, pipe bursting and slip lining, structural and corrosion protection, trenchless robotic systems, pipe and drain cleaners and industrial facility maintenance and renewal. Vortex is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 Galleher

Santa Fe Springs, California, United States

Galleher is a floor covering distributor, serving builders, contractors and retailers. Galleher distributes a broad offering of hardwood, resilient, vinyl and laminate flooring as well as carpet and installation accessories to more than 5,000 customers while also providing unique custom hardwood manufacturing capabilities. Galleher was founded in 1937 and is based in Santa Fe Springs, California.

Sell -