Contract logistics provider GXO Logistics Inc. (NYSE: GXO) said Thursday that it has acquired PFSweb Inc. (NASDAQ: PFSW), a multinational provider of e-commerce luxury goods fulfillment services, in an all-cash deal valued at $181 million, or $7.50 a share.

The transaction sets an enterprise value of $142 million on PFS, which also manages a cash balance of $39 million. The transaction is expected to close in the fourth quarter, GXO said.

PFS, based in Irving, Texas, specializes in fulfillment for more than 100 high-end health and beauty, collectibles, and jewelry brands. It also offers fraud protection and payment, customer care, and call center services. GXO currently has a limited presence in the verticals, said Baris Oran, GXO’s CFO.

PFS generates 86% of its revenue from North America. It operates eight distribution centers in the U.S., two in the U.K. and one in Belgium. All employees will come over with the transaction, and the company will eventually be absorbed into GXO, Oran said.

GXO may leverage PFS’ back-end capabilities for its customer base, Oran said. For now, however, it wants to focus on tapping into growth opportunities in the verticals.

PFS is expected to generate $21 million in 2023 earnings before interest, taxes, depreciation and amortization. Backing out the cash balance, GXO paid seven times EBITDA, which Oran said was an attractive valuation for a quality company.

In a statement announcing the deal, GXO CEO Malcolm Wilson said that “PFS is an ideal acquisition for GXO: it enhances our exposure to new high-growth verticals in North America and adds important capabilities to our offerings.”

Shares of PFSweb jumped more than 48% in early Thursday trading to $7.43 per share.