Mercury Express, Capital Express: What happens next?
- by admin
Capital Express is expanding the services it provides to its clients by providing an automated system to help them with their business.
The company said on Wednesday that it has been acquiring a team of 200 full-time employees to help it build out its logistics operations.
The move is part of an effort to diversify its business and make it more attractive to customers and investors.
The announcement comes amid a global economic slowdown that has sent the stock down more than 10 percent in 2017, the worst performance since 2016.
Capital Express has been buying up and merging companies and acquiring assets to try to boost its business.
Capital’s move follows the sale of two other logistics companies, including one that is currently under bankruptcy protection, and the recent acquisition of a logistics company in North America.
Capital said in a statement that it will now be focusing on its logistics business, and said it plans to continue to invest in its other businesses.
“We continue to build our global business, which includes logistics, which is the company’s fastest-growing area,” the company said.
Capital added that it is also expanding its logistics team and will hire 20 more full-timers over the next year.
Capital also announced that it had signed a deal with the U.S. Food and Drug Administration to use its fleet of delivery vans to deliver packages to customers.
It also said it has secured $500 million in financing from Fidelity Investments and Credit Suisse Group AG to expand its delivery network.
Capital is currently owned by private equity firm Golden Lake Partners.
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