Faegre Baker Daniels has advised Freightex, a U.K.-based asset-light provider of truckload, less-than-truckload, specialised and refrigerated over-the-road services, on its sale to UPS. The terms of the deal were not disclosed.
The acquisition of Freightex establishes UPS’s presence in the growing U.K. and European third-party logistics (3PL) over-the-road brokerage transportation market and launches a new UPS growth platform from an established base of customers and carriers. The Freightex business will operate under the Coyote business unit through the Supply Chain and Freight segment. By gaining access to UPS’s world-wide network, Freightex customers will gain the benefits of scale, reach, and access to a broad integrated portfolio of shipping solutions for all their supply chain management and shipping needs. In turn, Freightex operations will provide UPS customers with a U.K. and European solution where brokered freight movements provide the most competitive option.
The FaegreBD team was led by corporate partner Gary Laitner and included attorneys Melanie Wadsworth, Frankie Cooke, Jeannette Meyer and Jonathon Gunn, along with other professionals who advised on labor and employment, intellectual property and property aspects of the deal.
“The Board of Freightex Ltd chose Gary Laitner at Faegre Baker Daniels to advise on the sale of the company to UPS, based on Gary’s international experience and his track record of advising business founders and entrepreneurs,” said Bradley Stanton, Freightex Chairman. “From start to finish, we felt entirely confident with the advice we received from FaegreBD. At each stage the major issues were carefully identified, explained to us and advised on accordingly. Huge thanks should go to Gary’s highly efficient team who, working to a tight timetable, gave us a truly 24/7 service.”
Read Freightex’s corporate press release announcing the acquisition here.