MNX Expands in Life Sciences With Logical Freight Buy
MNX Global Logistics has acquired Melbourne, Australia-based Logical Freight Solutions to expand its reach in the Asia-Pacific region. The firms are focused on the health care, life sciences and bio-tech industries.
Long Beach, Calif.-based MNX provides specialized transportation and logistics services worldwide for biopharmaceutical, medical device, aviation and entertainment companies. MNX serves more than 190 countries. It has regional headquarters in Amsterdam, Miami and Singapore.
LFS works in life sciences, diagnostics, therapeutics, medical devices, chemicals, and genomics. It has offices in Australia, Hong Kong, New Zealand, Singapore, Taiwan and the United States.
“The pace of growth in patient-centric medicine, with its strict requirements for temperature-controlled transportation and time definite delivery, underscores the role that specialty time-critical logistics providers will continue to play in the life sciences and healthcare industries,” said MNX CEO Paul J. Martins in a statement. MNX is owned by the Riverside Company, a global equity firm that invests in firms valued at less than $400 million. Its portfolio consists of more than 90 companies.
The deal “opens new customers for MNX and allows LFS to reach new geographies and to leverage MNX’s class-leading technology,” said Riverside Partner Peter Tsang.
In 2016 Riverside worked with MNX in its acquisition of Aero Express Logistics. Riverside said it plans to continue growing MNX through a combination of organic initiatives and strategic acquisitions.