UPS completes acquisition of MNX
07 / 11 / 2023
UPS acquires MNX. Image Source: UPS
In late September, Air Cargo News (ACN) reported on express services giant UPS acquiring time-critical logistics services provider MNX Global Logistics.
That deal has now been completed, the acquisition closing on November 2 following the granting of all the required regulatory approvals.
Long Beach-headquartered MNX provides services covering next flight out (NFO), air charter, on-demand courier, managed transportation, service parts logistics (SPL) and specialty freight.
Its clients include multinational firms in the biopharmaceutical, life sciences, high-tech, medical device, aviation and financial industries.
According to UPS, the acquisition of MNX expands its capabilities in time-critical logistics, especially for its healthcare customers in the US, Europe and Asia.
“MNX has a strong track record in providing reliable and timely delivery of critical goods,” a UPS statement noted, observing that the company’s expertise in transporting radiopharmaceuticals and temperature-sensitive products will help UPS Healthcare and its clinical trial logistics subsidiary, Marken, meet the growing demand for these services in the healthcare industry.
“With MNX’s additional expertise, UPS will continue to offer industry-leading global service to customers who need time-critical, temperature-sensitive logistics solutions,” the statement added.
The acquisition of MNX is said by UPS to be part of its ongoing strategy to invest in new technologies and capabilities in order to provide its customers with the most reliable and efficient logistics solutions possible.