In early January 2017, Ti reported Radiant Logistics’ plans to acquire Canada-based Lomas Logistics. This has now been completed and Lomas Logistics will begin its transition to operate as Wheels International, a subsidiary of Radiant.
Lomas Logistics operates as a third party logistics provider serving companies across a range of industries including consumer goods, healthcare, food, chemicals and technology and operates from locations in Ontario and British Columbia, Canada. It is reported that Lomas Logistics, generated approximately C$17.0m in revenues for 2016, which resulted in approximately C$2.1m in normalized adjusted EBITDA.
Radiant’s Founder and CEO, Bohn Crain said, “The acquisition of Lomas Logistics enhances our ability to provide distribution services while leveraging our full suite of transportation services through the Radiant / Wheels network to a broader and more diverse group of target industries.”
Crain continued, “Wheels serves as a platform to support our Canadian-centric acquisition initiatives and the addition of Lomas Logistics is contributing to the further strengthening of our position in the Canadian marketplace. In addition, Lomas Logistics brings unique healthcare service offerings with licenses from Health Canada to distribute medical devices, pharmaceutical and natural health products which is expected to accelerate the development of a robust healthcare service offering for Wheels and Radiant. The scaling of our full distribution capabilities, including global inbound transportation and a full range of outbound transportation services, positions us to support the evolving needs for multi-channel fulfillment and distribution for many industries.”
Source: Radiant Logistics
If you would like to know more about the contract logistics industry and strategies of 3PLs, you may be interested in Ti’s upcoming Global Contract Logistics 2017 report. To register your interest, fill out the form below or contact Ti Sales Executive, Charlie Holden.
