Multinational delivery giant UPS looks set to buy Midland- based LYNX Express for £55.5 million,
Nuneaton-based LYNX - which employs 3,000 people across the UK - is one of Britain's largest independent parcel carriers and majority owned by the private equity firm Bridgepoint Capital (Nominees).
UPS expects to complete the transaction in the second half of 2005.
In addition to its parcel delivery service LYNX Express offers customers logistics and spare parts logistics services via a nationwide network.
Its customers include international brands across a range of industries and had company sales of £170 million for the year ended October 2, 2004.
Bill Caplan managing director of UPS UK said the acquisition was an ideal strategic fit for UPS.
The majority shareholder of LYNX Express, Bridgepoint, were advised by the Birmingham office of merchant bankers Rothschild.
A director of Rothschild Roger Hemming said: " We are very pleased to have been involved with Bridgepoint on this transaction which involved a great local business and a major multi-national in UPS."
Meanwhile, the Rail Maritime and Transport union said it was seeking a meeting to ensure the security of its 600 members' jobs, pay and conditions at Lynx.
General secretary Bob Crow said workers would be "seriously concerned" about the deal.