RENTON,
Wash., April 3, 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 the operations of Viking
Worldwide, Inc. ("Viking"), a
Minnesota based, privately held
company with operations in both Minneapolis, Minnesota and Houston, Texas that has operated under the
Company's Service By Air brand since 2012. 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.
Founded in 1993, Viking
services a diversified account base specializing in the high-tech,
brand management, life-sciences, and trade show industries from its
strategically located mid-west gateway location in metro
Minneapolis/St. Paul. On a
post-closing basis, Viking will
continue to operate under the Service By Air brand and is expected
to transition to the Radiant brand over the course of 2024 as
Viking's Minneapolis operations combine with existing
Company-owned operations in the area.
Mike Rothmeyer of Viking commented, "Through years of dedicated
service, our entire team 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. Since Radiant acquired Service By Air back in 2015 they
have proved to be a great partner, providing us a much larger
platform to support and grow our business. It has been rewarding to
be a part of the building momentum of the Radiant network over the
years and I am excited to now transition the business in a way that
meets my own personal goals while also ensuring the continued
success of our customers and employees. We look forward to flying
the Radiant flag in both Minneapolis and Houston." Mr. Rothmeyer will continue as the
Regional Director for the acquired operations in both Minneapolis and Houston.
"The Viking transaction
represents another great example of our work with our strategic
operating partners," 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 Mike in this
transition and are excited for this next chapter with Mike and his
entire team."
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-viking-worldwide-inc-302107599.html
SOURCE Radiant Logistics, Inc.