Radiant Logistics has completed the acquisition of the assets of its strategic operating partner Dedicated Logistics Technologies, a private company that had operated under Radiant’s Service by Air brand.
The structure of the deal includes a portion of the expected purchase price to be payable in subsequent periods based on the future performance of the acquired operation. After the closing of the final deal, Dedicated is expected to transition to the Radiant brand and will combine with existing company owned operations in Newark, New Jersey, while maintaining separate facilities in Los Angeles, California. Radiant expects this new organisation to achieve approximately $28.0m per year in revenue.
Bohn Crain, Founder and CEO of Radiant Logistics, commented: “We believe that the Dedicated transaction is also indicative of the broader opportunity available to us in the marketplace and that there will be more entrepreneurs, both internal and external to our existing network, that will look to join our ranks.”
Source: Radiant Logistics
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