MNX acquires Network Global’s express division

The buy “cements MNX as the largest independent specialty logistics provider serving the life sciences, healthcare, medical device, aviation and technology industries.”

MNX acquires Network Global’s express division

The buy “cements MNX as the largest independent specialty logistics provider serving the life sciences, healthcare, medical device, aviation and technology industries.”

MNX acquires Network Global’s express division

The buy “cements MNX as the largest independent specialty logistics provider serving the life sciences, healthcare, medical device, aviation and technology industries.”

 
Third-party provider MNX Global Logistics has acquired the express division of fellow 3PL Network Global Logistics, according to a joint statement from the companies.
    Financial terms of the deal were not disclosed, but the firms said the addition of NGL’s express division “cements MNX as the largest independent specialty logistics provider serving the life sciences, healthcare, medical device, aviation and technology industries.” NGL was founded in 1971 as the industry’s first same-day air courier and now provides integrated supply chain services, specializing in warehousing, distribution, service parts logistics and forward stocking locations services.
    “With this combination, MNX and NGL are better positioned to support customers looking to tap opportunities for growth throughout the world,” the companies said.
    The purchase comes shortly after a July recapitalization from MNX investor Audax Private Equity that was meant to accelerate the company’s strategic plan of pursuing acquisitions in the time-critical logistics market. MNX said it would continue to hunt for M&A opportunities that fit this mold.
    Based in Long Beach, Calif., MNX provides specialized, expedited transportation and logistics services to clients across the biopharmaceutical, life sciences, medical device, aviation and entertainment industries. The company has regional headquarters in Singapore, Amsterdam and Miami, offering dedicated hand-carries, next-flight-out, inventory management, fulfillment operations and 4PL services management in more 190 countries worldwide.
There have been record-high levels of imports over the past several months, primarily due to raised inventories ahead of expected tariff increases. But we are projecting declining volumes in the coming months and an overall weakness in imports for the first half of the year.
The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index stood at 940.86 on Jan. 4, up 3.3 percent from a week prior, thanks to increases on the Shanghai to Mediterranean and U.S. trades, while rates from Shanghai to Europe remained flat.
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