MNX has clients in the biopharmaceutical, life sciences, medical device, high-tech, aviation and financial industries, according to an announcement of the deal. It also has capabilities in temperature-controlled logistics and radiopharmaceuticals, which are used to diagnose certain medical problems and treat diseases. Those capabilities will help UPS Healthcare and its clinical trial logistics subsidiary Marken to meet demand, according to UPS.
The companies did not disclose the value of the transaction. MNX Global Logistics is owned by private equity firm Quad-C Management, which acquired MNX in 2021 from Audax Private Equity.
MNX says on its website that it does more than 1.5 million shipments annually and has been in business for more than 50 years, launching as Network Courier Services in the early 1970s. It has locations around the world, with six locations in the U.S. including in Atlanta, as well as locations in Australia, Europe and Asia, according to its website.
MNX CEO John Labrie said in a statement that by joining UPS, “we will be able to use the MNX team’s expertise in global, time-critical logistics within UPS’s extensive network, allowing us to provide our customers with the best possible service.”
The deal is expected to close by the end of the year, subject to regulatory approvals.