Freightex freight broker Freightex will henceforth go through life as Coyote Logistics. In January, the company was acquired by UPS, which has also owned Coyote Logistics for two years. The companies now want to expand in Europe as a single brand.
Freightex is based in Europe and operates as an 'asset-light' provider of full load space, shared load space, and refrigerated and specialised transport services. Two years after acquiring Coyote Logistics, UPS decided to acquire Freightex as well. In doing so, it strengthened its presence in the growing third-party logistics market. Coyote Logistics already expanded its services globally in recent years, including with an office in Mexico. With the acquisition of Freightex, the company now wants to gain a foothold in Europe as well.
"Over the past 12 months, we have been able to improve our European services by leveraging Coyote's well-developed processes, particularly in terms of technology and formation," said Tim Phillips, ceo of Freightex. "The acquisition is a natural step in our evolution towards one clear brand with a unified message for our customers and our carriers, many of whom we have global relationships with."
