This week, Long Beach-based MNX Logistics acquired the express division of Colorado-based Network Global Logistics (NGL) – a provider of same-day air courier and logistics services, with locations on six continents.
MNX called the procurement “one in a series of strategic business moves” to bolster its time- and temperature-sensitive industry focus.
John Labrie, CEO of NGL, said that he has observed “increased consolidation within the specialty logistics industry,” another such example being Swiss forwarder Kuehne + Nagel’s acquisition of Quick International Carrier last month.
The purchase is expected to increase MNX’s appeal to more internationally operating customers and serve to develop MNX’s brand as a “fully independent company, whose singular focus is on specialty logistics,” Labrie continued.
MNX credited its financial sponsor, Audax Private Equity, which “recapitalized the business in July 2018 to accelerate MNX’s strategic plan.”
Last year, in November, the company acquired an Australian logistics company, Logical Freight Solutions, which specializes in healthcare logistics. Six months later, it opened a 14,000-square-foot facility near New York’s JFK International Airport for its pharma industry clients, citing heightened demand for cold-chain services. MNX said it plans to continue to pursue acquisitions of time-critical logistics firms, looking forward.