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Global logistics firm acquires Polar Speed

Global logistics firm UPS has acquired Polar Speed, a supplier of temperature controlled distribution services, for an undisclosed sum.
Polar Speed runs 118 vehicles with temperature control technology that enables the firm to carry out the delivery of medicines for clients such as the NHS. Other clients include private hospitals, retail pharmacies, patients at home, opticians, dental practices and pharmaceutical wholesalers.
Cavendish Corporate Finance advised Polar Speed on the deal. Merrill Lynch International acted for UPS.
The demand for temperature controlled distribution is expected to grow after the Medicines and Healthcare Products Regulatory Agency (MHRA) published new guidelines on the distribution of medicinal products in March 2013.
This has hugely increased regulation in this industry and with 85% of the non-wholesale market being made up of distributors that are non-GDP [Good Distributions Practice] compliant, “Polar Speed is well placed to capitalise on any further regulations” said Cavendish Corporate Finance in a statement.
Cindy Miller, president of UPS Europe, said: “The acquisition will help UPS meet the needs of healthcare customers who want to reach the important UK market, offering increased value in managing more flexible and efficient healthcare supply chains. Our combined services will ensure healthcare companies have access to the best temperature-sensitive transportation solutions and allow us to effectively handle the rising demand for temperature-sensitive pharmaceutical and biologic products.”
US-based UPS is one of the largest shipment and logistics companies in the world.


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Posted on: 11/02/2014

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