UNITED SHIPPING & TECHNOLOGY SELLS TRICOR AMERICA
United Shipping & Technology, based in Minneapolis, a same-day delivery and e-commerce logistics provider, has sold Tricor America Inc., one of US&T’s two air courier units, to Tricor’s former owners.
A year ago, US&T bought Velocity Express, an acquisition that included the Tricor courier unit.
Peter Lytle, chairman and chief executive officer of US&T, said that “our goal is to become the premier back-end delivery company for B2B and B2C e-commerce.”
Velocity Express’ emphasis “on this important market sector and ‘the last mile’ delivery requirements for our customers has resulted in the underutilization of Tricor … it makes sense from both strategic and financial perspectives that Tricor operate independently.” Lytle said. He did not disclose terms of the sale.