Lynx Express (parcels)

Lynx Express (stylized as LYNX Express) was a courier (parcel delivery) company operating principally in the United Kingdom. It was acquired in July 2005 by UPS.[1]

Lynx Express
IndustryCourier service
FoundedJanuary 1955
DefunctSeptember 2005
FateAcquired (2005)
SuccessorUPS
HeadquartersNuneaton, England
Key people
David Burtenshaw (Chief Executive)
Number of employees
3,500

HistoryEdit

The company's history dates back to the nationalisation of the British Railways after World War II. Each of the pre nationalisation companies had formed a local delivery network, based on lorries and vans, to extend the railway to the customer's door, thus enabling parcels and light freight to be delivered in the control of the railway company.

These services were amalgamated to form a division of British Road Services in January 1955, known in its shortened version of BRS Parcels.[2] National Carriers was the name given to the amalgamated companies that concentrated on rail transport, while BRS Parcels became Roadline

The Conservative Government of Margaret Thatcher privatised these services in 1982, making shares in the newly formed National Freight Corporation available to employees at a price which proved to undervalue the company when they were floated on the stock market.

National Carriers and Roadline were merged and operated briefly under the name National Carriers Roadline before settling on the name Lynx Express Delivery Network. This remained the company's full title although it was popularly shortened.

Following a reorganisation, rationalisation of core business interests and rebranding exercise, National Freight Corporation, by this time shortened to NFC plc, merged with Ocean Group plc and became known as Exel, and Lynx Express was seen as outside its main area of concentration.

It was the subject of a management buyout from Exel in June 1997.[2] The newly independent company was subsequently renamed Lynx Express.[2] Lynx Express became majority owned by Bridgepoint Capital.[2] The company acquired British Rail’s remaining local delivery asset Red Star Parcels in January 1999.[3][4]

Lynx Express was acquired by UPS for £55.5 million (US$97.1 million) in July 2005.[5] At the time, Lynx Express was one of the largest independent parcel carriers in the United Kingdom, with sales of $295 million (£170 million) for the financial year ending 2 October 2004.[6] The company was subsequently integrated into UPS, and the Lynx brand disappeared. The acquisition was completed in September 2005.[7][8]

ReferencesEdit

  1. ^ "UPS to Acquire U.K. Firm Lynx Express For $96.5 Mln". ttnews.com. 25 July 2005. Retrieved 31 December 2020.
  2. ^ a b c d "Gordon Mustoe, BRS Parcels Services and The Express Carriers". 6 October 2011. Archived from the original on 6 October 2011. Retrieved 22 February 2009.
  3. ^ "Lynx Express acquires Red Star". www.cwn.org.uk. 5 January 1999. Retrieved 31 December 2020.
  4. ^ Red Star sold The Railway Magazine issue 1175 March 1999 page 10
  5. ^ "Bridgepoint sells Lynx Express". buyoutsinsider.com. 1 July 2005. Retrieved 31 December 2020.
  6. ^ "UPS to acquire LYNX Express". Atlanta Business Chronicle. 25 July 2005. Retrieved 31 December 2020.
  7. ^ "Mergers: Commission approves acquisition of Lynx by UPS". ec.europa.eu. 26 September 2005. Retrieved 17 February 2020.
  8. ^ "Shop In The UK & Ship Anywhere". forwardvia.com. 9 October 2020. Retrieved 9 October 2020.

External linksEdit