XPO Logistics announced that it has paid $59 million to acquire UX Specialized Logistics, which makes last-mile deliveries for retail chains and online retailers.
UX has about 700 employees and 1,600 contracted carriers and installers. The company’s revenue was $113.2 million last year after growing at a 19% compounded rate for the past five years, the company’s statement said.
“This acquisition expands our network for heavy goods home delivery … and adds more density to our growing e-commerce logistics,” CEO Bradley Jacobs said in a statement.
With the completion of the UX purchase, XPO has made 14 acquisitions in less than three years. The Greenwich, Connecticut-based company ranks No. 12 on the Transport Topics Top 50 list of the largest logistics companies in North America.
Last week, the company announced it raised $400 million to fund future acquisitions, bringing its total available cash to more than $1 billion.