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BtoB

UPS to purchase Lynx Express

Published on .

London—UPS on Monday announced it has agreed to acquire LYNX Express for $96.5 million in cash, a move that will strengthen its footprint in the U.K.

LYNX Express, a Nuneaton-based independent parcel service, is majority owned by the private equity firm Bridgepoint Capital (Nominees). UPS expects to complete the transaction in the second half of 2005, subject to customary closing conditions, it said.

"LYNX Express is a well-established company whose network and capabilities strengthen our presence in the U.K," said Bill Caplan, managing director, UPS U.K, in a statement.

—Carol Krol

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