Radiant Logistics acquires Cascade Transportation to enhance transportation and logistics services
Radiant Logistics, Inc. (NYSE American: RLGT), a leading provider of technology-enabled global transportation and value-added logistics solutions, today announced the acquisition of Cascade Transportation, Inc., a Seattle-based, privately held company renowned for its comprehensive range of time-critical domestic and international transportation and logistics services. This acquisition is structured to include a portion of the purchase price payable based on the future performance of the acquired operations, similar to Radiant’s previous strategic acquisitions.
Background and Impact of the Acquisition
Founded in 1982, Cascade Transportation has been a prominent player in the transportation sector, servicing a diverse account base across retail, e-commerce, production furniture, and tradeshow industries. Prior to the acquisition, Cascade was part of a competing transportation group but will now operate under the Radiant Global Logistics (RGL-SEA) brand, continuing its operations under the current leadership.
Statements from Company Leaders
David Comstock from Cascade expressed enthusiasm about the acquisition, noting, “Through years of dedicated service, our customers have always remained our top priority. We found that partner in Radiant. We are excited to now transition the business in a way that ensures the continued success of our customers and employees while also enabling the opportunity for growth as part of a larger organization moving forward.”
Bohn Crain, Founder and CEO of Radiant, also commented on the acquisition: “We are proud to announce our partnership with the entire Cascade team. We have purposefully positioned ourselves to bring value to logistics entrepreneurs and believe that the Cascade transaction is representative of the broader pipeline of opportunities available to us in the marketplace. We are pleased to be able to support Cascade in this transition and are excited for this next chapter with David and the entire team.”
Expert Analysis and Future Outlook
This acquisition signifies Radiant Logistics’ commitment to expanding its service offerings and enhancing its operational capabilities. By integrating Cascade’s expertise and client base, Radiant Logistics is poised to strengthen its market position in the transportation and logistics industry. The strategic acquisition is expected to bring significant synergies, drive growth, and enhance service delivery to customers across various industries.
The collaboration between Radiant Logistics and Cascade Transportation not only promises enhanced operational efficiencies and customer service but also positions Radiant to leverage Cascade’s established market presence and expertise. This move is a strategic step forward in Radiant’s expansion strategy, demonstrating its commitment to leading the logistics sector through strategic partnerships and acquisitions.