Strengthens Company's Cruise Logistics Service
Offering in South Florida
RENTON,
Wash., Feb. 7, 2024 /PRNewswire/ -- Radiant
Logistics, Inc. (NYSE American: RLGT), a leading provider of
technology-enabled global transportation and value added logistics
solutions, today announced it has acquired Select Logistics, Inc.
and Select Cartage, Inc. (collectively "Select"), both Doral, Florida based, privately held companies
that have operated as part of the Company's Adcom Worldwide brand
since 2007. The Company structured the transaction similar to its
previous transactions, with a portion of the expected purchase
price payable in subsequent periods based on the future performance
of the acquired operations.
Originally founded in 2007 and operated by Gabby Santos and
Hector Cavallo, Select provides both
domestic and international freight forwarding services and is well
recognized for its expertise and in-depth knowledge and support of
the cruise line industry. On a post-closing basis, Select is
expected to transition to the Radiant brand and will combine with
existing company owned operations in south Florida. Gabby Santos will assume the role of
General Manager for the newly combined organization which will
continue to develop and deliver advanced supply chain solutions for
their cruise line and other customers. Hector Cavallo will be moving on to pursue
outside interests.
Gabby Santos of Select commented, "Through years of dedicated
service, our entire team here in Florida has developed some very strong
relationships with our customers, vendors and associates around the
globe. Our customers have always remained our top priority whether
they were here in the United
States or abroad and this philosophy has been key to our
success. We were happy when Radiant acquired Adcom Worldwide back
in 2008 and are looking forward to flying the Radiant flag
ourselves here in Florida. Radiant
has consistently provided an environment for us to grow our
business over the years and it has been rewarding to be a part of
the building momentum of the Radiant network. We are excited to now
transition our business in a way that meets our own personal goals
while also ensuring the continued success of our customers and
employees."
"The Select transaction and our long-standing partnership with
Gabby and Hector represents another significant milestone in the
continued evolution of Radiant," remarked Radiant's Founder and
CEO, Bohn Crain. "We launched
Radiant in 2006 with the goal of partnering with logistics
entrepreneurs who would benefit from our unique value proposition
and the built-in exit strategy available to the entrepreneurs
participating in our network. We are pleased to be able to support
both Hector and Gabby in this transition and are excited for this
next chapter with Gabby and the team in Florida."
About Radiant Logistics (NYSE American: RLGT)
Radiant Logistics, Inc. (www.radiantdelivers.com) is a publicly
traded third party logistics company providing technology-enabled
global transportation and value added logistics solutions primarily
to customers based in the United
States and Canada. Through
its comprehensive service offering, Radiant provides domestic and
international freight forwarding along with truck and rail
brokerage services to a diversified account base including
manufacturers, distributors and retailers which it supports from an
extensive network of Radiant and agent-owned offices throughout
North America and other key
markets around the world. Radiant's value-added logistics services
include warehouse and distribution, customs brokerage, order
fulfillment, inventory management and technology services.
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding future operating performance, events, trends and
plans. All statements other than statements of
historical fact contained herein, including, without limitation,
statements regarding our future financial position, business
strategy, budgets, projected revenues and costs, and plans and
objectives of management for future operations, are forward-looking
statements. Forward-looking statements generally can be identified
by the use of forward-looking terminology such as "may," "will,"
"expects," "intends," "plans," "projects," "estimates,"
"anticipates," or "believes" or the negative thereof or any
variation thereon or similar terminology or expressions. We have
based these forward-looking statements on our current expectations
and projections about future events.. These forward-looking
statements are not guarantees and are subject to known and unknown
risks, uncertainties and assumptions about us that may cause our
actual results, levels of activity, performance or achievements to
be materially different from any future results, levels of
activity, performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause our
actual results to differ from our expectations, include but are not
limited to, the performance of our historic business at levels
consistent with recent trends and reflective of the synergies we
believe will be available to us as a result of our recent
acquisitions; and those risk factors that apply to our operations
as disclosed in Item 1A of our Report on Form 10-K for the year
ended June 30, 2023 and other filings
with the Securities and Exchange Commission and other public
documents and press releases which can be found on our web-site
(www.radiantdelivers.com). Readers are cautioned not
to place undue reliance on our forward-looking statements, as they
speak only as of the date made. Such statements are not guarantees
of future performance or events and we undertake no obligation to
disclose any revision to these forward-looking statements to
reflect events or circumstances occurring after the date
hereof.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/radiant-logistics-acquires-strategic-operating-partner-companies-select-logistics-inc-and-select-cartage-inc-302056862.html
SOURCE Radiant Logistics, Inc.