Founded in 2006, Coyote reported annual revenue of $2.1bn in 2014. Closing is expected within 30 days, subject to customary conditions and regulatory approvals. The transaction will be financed with available cash resources and through existing and new debt arrangements. The acquisition is expected to be accretive to UPS earnings in 2016.
Coyote arranges customers’ freight shipments on available trucking capacity contracted to members of its carrier network, numbering more than 35,000 trucking companies. The company enjoys strong market positions among food and beverage, and consumer goods customers, as well as paper and packaging, industrial and retail segments. Following the acquisition and integration of Access America Transport to its network last year, Coyote added strength in flatbed serviced segments such as heavy equipment and construction.
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