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UPS Capital scoops up another shipper
In the wake of the Parcel Pro acquisition, UPS Capital has purchased the Insured Parcel Service business of G4S International Logistics, an arm of security company G4S.
Atlanta--UPS Capital has secured another company in the jewelry shipping space.
The company announced last week that it has purchased the Insured Parcel Services, or IPS, business of London-based G4S International Logistics, an arm of London-based security company G4S.
G4S International Logistics has offices worldwide including four in the United States, in Chicago, Los Angeles, New York and San Francisco. Atlanta-based UPS Capital said “plans are being developed” in regards to the location of IPS offices in the U.S. following the acquisition.
The terms of the deal were not disclosed and UPS Capital said as a matter of company policy it will not comment on how many IPS employees will be staying with the company.
News of the purchase follows last month’s announcement that UPS Capital has acquired Parcel Pro, the Torrance, Calif.-based shipper that’s been working in the jewelry industry since 1997. At the time of the Parcel Pro acquisition, UPS Capital executives indicated the company was looking to gain a greater foothold in the jewelry industry.
This latest acquisition is certainly another step in that direction.
UPS Capital said the purchase will give IPS customers access to enhanced services through Parcel Pro’s secure logistics solutions, including higher insured value limits--up to $150,000 per package in the U.S. and up to $100,000 in other countries--expanded international coverage and superior technology, such as mobile apps, API (application program integration) and risk management web tools.
Editor’s note: This story was corrected to reflect the fact that the insured value limit is $150,000 in the United States, not $250,000 as previously reported.
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