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GREENWICH, Conn. — XPO Logistics has acquired UX Specialized Logistics, a North American provider of last mile logistics services for retail chains and e-commerce companies. The purchase price was $59 million, excluding any working capital adjustments, with no assumption of debt, XPO said.
UX had revenue of $113.2 million and adjusted earnings before interest, taxes, depreciation and amortization of $8.2 million in 2014. For the five years prior to acquisition, UX increased revenue at a compound annual growth rate of 19%, according to XPO. It said the acquisition is expected to be immediately accretive to earnings before the benefits of cross-selling and other synergies.
Founded in 1978, UX is a non-asset, last-mile logistics provider that specializes in logistics for the home delivery and installation of heavy goods, including e-commerce delivery, and same-day delivery services. UX has about 700 employees and contracted capacity of over 1,600 independent carriers and installers. XPO will integrate the acquisition into its XPO Last Mile division.
“UX is a highly scalable, tech-savvy addition to our last mile operations. This acquisition expands our network for heavy goods home delivery, where we’re already the number one provider, and adds more density to our growing e-commerce logistics footprint,” said Bradley Jacobs, chairman and CEO of XPO Logistics. “UX has demonstrated strong organic growth based on long-term relationships with blue chip retailers who can use a wide range of our services.”
According to the company, XPO Logistics facilitates more than 37,000 deliveries a day and has 201 locations and some 11,500 employees. The company has more than 4,900 trucks under contract and has access to additional capacity through its relationships with over 28,000 other carriers.
