RENTON,
Wash., June 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 Cascade
Transportation, Inc. ("Cascade"), a Seattle-based, privately held company that
provides a full range of customized time critical domestic and
international transportation and logistics services. 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 1982, Cascade services a diversified account base
including retail, e-commerce, production furniture and tradeshow
industries. From inception through the date of acquisition, Cascade
operated as part of a competing transportation group. On a
post-closing basis, Cascade will continue under the current
leadership and operate as Radiant Global Logistics (RGL-SEA).
David Comstock of Cascade commented, "Through years of
dedicated service, our customers have always remained our top
priority. We have been looking for a long-term partner with that
same passion for servicing the customer and a shared vision to
further advance our business: we found that partner in Radiant. We
are excited to now transition the business in a way ensures the
continued success of our customers and employees while also
enabling the opportunity for growth as part of a larger
organization moving forward."
"We are proud to announce our partnership with the entire
Cascade team," remarked Radiant's Founder and CEO, Bohn Crain.
"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."
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-operations-of-seattle-based-cascade-transportation-inc-302162478.html
SOURCE Radiant Logistics, Inc.