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RXO Forms $550 Million Partnership with MFN Partners, LP and Orbis Investments for Financing Coyote Logistics Acquisition

Aug 12, 2024•almost 2 years ago

Contract Type

partnership

CharlotteTransportationLogistics

Description

RXO has entered into purchase agreements with MFN Partners, LP and certain accounts managed by Orbis Investments for a $550 million private financing to finance a portion of the pending acquisition of Coyote Logistics, UPS’ technology-driven, asset-light based truckload freight brokerage services business. The acquisition is expected to close in the first half of the fourth quarter.

Company Information

Company

RXO

Location

Charlotte, North Carolina, United States

About

RXO is a leading provider of asset-light transportation solutions offering tech-enabled truck brokerage services with complementary solutions including managed transportation, freight forwarding, and last mile delivery. The company combines massive capacity and cutting-edge technology to move freight efficiently through supply chains across North America.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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