UPS to acquire Marken
Nov 08, 2016: UPS, one of the global leader in logistics, has entered into a definitive purchase agreement to acquire Marken, a global provider of supply chain solutions to the life sciences industry. The transaction, which provides UPS with growth opportunities across the life sciences customer base, is expected to close by December 31, subject to customary conditions and regulatory approvals. The terms of the acquisition were not disclosed. JP Morgan served as the financial advisor to UPS. UBS Investment Bank acted as the financial advisor to Marken.
Clinical trials require strict regulatory compliance, streamlined logistics services and global reach. Marken operates a global network of clinical supply chain services to meet the increasingly complex demands of its clients. The acquisition of Marken follows multiple UPS acquisitions that have expanded the company’s healthcare logistics services portfolio.
“Healthcare logistics is a strategic market for UPS. Our acquisition of Marken strengthens our portfolio and demonstrates our commitment to customers,” said Teresa Finley, UPS chief marketing and business services officer. “We plan to offer new solutions to our customers and generate further growth opportunities for UPS.”
“We are excited to join the UPS organisation,” said Wes Wheeler, Marken’s chief executive officer. “UPS’s capabilities, particularly in mature markets, will provide many opportunities for us to enhance our service offerings in clinical trials logistics. With UPS, we will improve our efficiency, while continuing to provide our clients with the high-touch, personalized services that they have come to expect from us.”
Wheeler will continue to lead the Marken business, which will operate as a wholly-owned subsidiary of UPS.
“UPS is focused on the logistics complexity of clinical trials, and the acquisition fits well into our long-term growth plans in the biopharma segment,” Finley said. “Marken’s significant industry expertise and flexible network, combined with UPS’s vast integrated global air and ground networks, will provide the life sciences industry with an attractive portfolio of global logistics options.”
