July 25, 2005 10:30 AM, EDT

UPS to Acquire U.K. Firm Lynx Express For $96.5 Mln.

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PS Inc. Monday said it would purchase United Kingdom parcel carrier Lynx Express for $96.5 million in cash.

UPS said in a statement it expects to complete the transaction in the second half of the year.

Lynx, one of the U.K.’s largest independent parcel carriers, is majority owned by the private equity firm Bridgepoint Capital.

In addition to its parcel delivery service, Lynx offers logistics and spare-parts logistics services. It had sales of $295 million for the fiscal year ended Oct. 2, 2004.

“Lynx Express is a well-established company whose network and capabilities strengthen our presence in the U.K.,” said Bill Caplan, managing director of UPS U.K. “We will now be even better positioned to support companies across the U.K. with their domestic and international trade needs.”

UPS has offered service to and from the U.K. since the mid 1980’s and in this last quarter, had nearly an 8% gain in export-volume growth from the U.K. compared to the same period last year, the company said.

UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.