February 09, 2015: XPO Logistics, Inc. today announced that it has acquired UX Specialized Logistics ("UX"), a North American provider of last mile logistics services for major retail chains and e-commerce companies.
The purchase price was $59 million, excluding any working capital adjustments, with no assumption of debt. UX had revenue and adjusted EBITDA of $113.2 million and $8.2 million, respectively, for the full year 2014. For the five years prior to acquisition, UX increased revenue at a compound annual growth rate of 19%. The acquisition is expected to be immediately accretive to earnings before the benefits of cross-selling and other synergies.
Founded in 1978, UX is a non-asset, last mile logistics provider that specializes in logistics for the home delivery and installation of heavy goods, including e-commerce delivery, and same-day delivery services. UX has approximately 700 employees and contracted capacity of over 1,600 independent carriers and installers. XPO will integrate the acquisition into its XPO Last Mile division.
Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, "UX is a highly scalable, tech-savvy addition to our last mile operations. This acquisition expands our network for heavy goods home delivery, where we're already the number one provider, and adds more density to our growing e-commerce logistics footprint. UX has demonstrated strong organic growth based on long-term relationships with blue chip retailers who can use a wide range of our services. We're very pleased to welcome the employees, customers and carriers of UX to XPO."