Radiant Logistics Expands with Foundation Logistics Acquisition
Radiant Logistics Expands Its Reach
Radiant Logistics, Inc. (NYSE American: RLGT), a leader in technology-enabled logistics solutions, recently made a significant step to fortify its presence in the oil and gas industry by acquiring Foundation Logistics & Services, LLC. This strategic move marks an enhancement in Radiant’s capacity to provide specialized transportation and logistics services, particularly for businesses involved in exploration, drilling, and energy production.
Empowering the Oil and Gas Sector
Foundation Logistics, established in 2014, focuses on delivering a wide array of logistics solutions tailored to the oil and gas sector. Their expertise particularly shines in the transportation of hazardous materials and urgent equipment, ensuring these vital resources reach their destinations effectively and safely. Following the acquisition, Foundation will continue to operate under its established name, with a plan to transition to the Radiant brand in the coming years, allowing for the synergies of their joint operations.
Leadership and Vision Post-Acquisition
Foundation’s co-founders, Larry Earley and Cindy Jones, will retain leadership roles, ensuring continuity for their team and clients as they integrate with Radiant’s broader logistics network. They aim to leverage their operational strengths alongside Radiant’s resources. Earley articulated the importance of finding a partner like Radiant, suggesting this collaboration will enhance customer service and provide growth opportunities for employees.
Commitment to Quality and Customer Service
Bohn Crain, Radiant's Founder and CEO, expressed pride in this partnership, emphasizing his deep connection to the oil industry and the local area. This acquisition is not just a business move; it’s about enhancing services for clients and strengthening relationships within the community. Crain’s enthusiasm underscores a personal commitment to augmenting the capabilities Radiant offers to its clients, particularly in the oil and gas landscape.
Broadening the Service Range
Radiant Logistics aims to enrich its existing service offerings, utilizing Foundation’s specialized focus to provide a more comprehensive solution for its clientele. Their network facilitates domestic and international freight forwarding, complemented by services in customs brokerage, warehouse management, and more. This broad spectrum of services ensures that Radiant can meet diverse logistical needs across various sectors.
About Radiant Logistics
Radiant Logistics, Inc. is a publicly traded third-party logistics entity that delivers innovative and technology-driven transportation solutions, particularly in the United States and Canada. The company’s robust network allows it to serve a diverse clientele transcending multiple industries, including manufacturing, retail, and distribution.
With a commitment to providing effective logistics services, Radiant continues to evolve, enhancing its capabilities and expanding its reach through targeted acquisitions. This acquisition of Foundation Logistics exemplifies Radiant's strategy to grow its offerings and reinforce its position in the logistics sector, especially within oil and gas industries.
Frequently Asked Questions
What led to the acquisition of Foundation Logistics by Radiant?
The acquisition was aimed at strengthening Radiant's service capabilities in the oil and gas sector, enhancing its logistical offerings and market reach.
How will this acquisition affect Foundation Logistics?
Foundation will continue to operate under its brand initially and will transition to Radiant's brand in the future, ensuring continuity for its clients.
Who will lead Foundation Logistics post-acquisition?
Co-founders Larry Earley and Cindy Jones will remain in leadership roles, overseeing operations and integrating with Radiant’s network.
What services does Radiant Logistics offer?
Radiant provides a wide range of logistics services, including freight forwarding, customs brokerage, and warehouse management for various sectors.
What is Radiant's future vision after this acquisition?
Radiant aims to leverage the strengths of Foundation Logistics to enhance customer service and broaden its capabilities in the logistics sector.
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