CHARLOTTE, N.C.— RXO has completed its acquisition of Coyote Logistics from UPS for a purchase price of $1.025 billion.
According to a media release, the completion of the acquisition now places RXO as the third-largest provider of brokered transportation in North America.
“We’re thrilled to welcome Coyote’s employees, customers and carriers to RXO,” said Drew Wilkerson, chief executive officer of RXO. “This acquisition enables us to provide customers with even more capacity. Our larger scale will provide carriers with access to more freight. As we work to integrate Coyote’s people and technology into our business, we remain focused on providing the best service, most comprehensive set of solutions, continuous innovation and deep relationships for our customers.”
The acquisition enhances RXO’s market position, diversifies and expands its customer base and broadens its carrier network. For customers, RXO now offers increased network density and additional power lanes. For carriers, RXO offers access to more customers with opportunities to reduce deadhead miles, according to the release.
Coyote Logistics was founded in 2006 and acquired by UPS in 2015.
Goldman Sachs & Co. LLC served as financial advisor to RXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as its legal advisor.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
