MIQ Logistics acquires U.K. logistics firm

MIQ Logistics acquires U.K. logistics firm

   MIQ Logistics said Wednesday it has acquired The Logistics Corp. Ltd. (TLC), a U.K.-based provider of logistics to the retail industry.

   Overland Park, Kan.,-based MIQ said the purchase will complement its existing services in Europe by offering customers enhanced end-to-end supply chain solutions, including retail warehousing and fulfillment operations.

   'The acquisition of TLC is an important step in the expansion of our U.K. and European operations,' said Joey Carnes, chairman and chief executive office of MIQ Logistics. 'A year ago, when we formed our partnership with Austin Ventures, we did so with a commitment to grow and expand the business by offering comprehensive transportation, distribution and global services of a consistently high quality throughout the world. Our agreement with TLC allows us to build on our existing strengths in serving retail customers by providing even greater capabilities and experience.'

   In the summer 2010, Austin Ventures, a strategic private equity investor, purchased portions of YRC Logistics from YRC Worldwide to create MIQ Logistics.

   MIQ Logistics will add multiple warehouse locations and retail-oriented dedicated distribution centers.

   TLC Managing Director Don Purnell said the two firms have worked closely for six years and “it is clear that the two organizations are an ideal fit.”