Radiant Logistics Expands with Weport Acquisition in Mexico
Radiant Logistics Strengthens Its Position in North America
Strengthening Its Platform and Positioning for Growth
Radiant Logistics, Inc. (NYSE American: RLGT), a renowned provider of technology-enabled global transportation and logistics solutions, has taken a significant step forward. The company recently announced its acquisition of an 80% ownership interest in Weport, S.A. de C.V. This strategic move is poised to enhance Radiant's presence and capabilities across the North American logistics landscape.
Weport is a privately held entity based in Mexico, noted for its extensive range of global transportation and logistics services. These services are meticulously tailored to meet the diverse needs, specifications, and regulations of various industries and clients globally. The acquisition structure mirrors Radiant's previous transactions, indicating a strategic blend of immediate investment and future performance linked compensation, thus allowing Radiant to potentially acquire an additional 20% stake down the line.
About Weport
Established in 2016 and headquartered in Mexico City, Weport offers national coverage for goods being transported to and from Mexico. The company provides a wealth of services including international ocean and air freight forwarding, multi-modal domestic transport services, as well as customs brokerage and warehousing. Following the acquisition, Weport will remain under the leadership of its founder, Ricardo Rochman. The expectation is that Weport will transition to the Radiant brand throughout the year as they continue to offer their renowned personalized services.
Ricardo Rochman expressed enthusiasm about the acquisition, noting that their growth has been rooted in relationships built on trust and a commitment to customer satisfaction. He is keen on leveraging the strengths of both Weport and Radiant to add value to their customers, especially as they integrate deeper into the Radiant Network across Mexico.
Shared Visions for Growth
Bohn Crain, the founder and CEO of Radiant, reinforced the excitement surrounding the partnership, stating that this acquisition is in alignment with Radiant's objectives to strengthen operations and expand their capabilities in Mexico. This strategic partnership does not just serve to enhance the company’s legacy in serving customers but is also a catalyst for growth in North America.
Through this merger, Radiant aims to facilitate a broader operational footprint, enabling it to tackle larger logistics challenges and serve a more extensive client base. The collaboration with Weport creates a solid groundwork for realizing their collective vision and ambition in the logistics industry.
About Radiant Logistics
Radiant Logistics, Inc. is a publicly traded, third-party logistics company that delivers technology-enabled transportation solutions and value-added logistics services primarily to clients in the United States and Canada. With a robust service portfolio, Radiant excels in both domestic and international freight forwarding, as well as various brokerage services.
Radiant’s operations are supported by a broad network of both Radiant and affiliate-owned offices located across North America and key global markets. The company also offers an extensive range of value-added services which includes customs brokerage, warehouse and distribution operations, order fulfilment, inventory management, and comprehensive technology services to its diverse clientele that ranges from manufacturers to retailers.
Frequently Asked Questions
What did Radiant Logistics acquire?
Radiant Logistics acquired an 80% ownership interest in Weport, a Mexico-based logistics company.
What services does Weport provide?
Weport offers international ocean and air freight forwarding, customs brokerage, warehousing, and other logistics services.
Who will lead Weport after the acquisition?
Ricardo Rochman, the founder of Weport, will continue to lead the company following the acquisition.
Why is this acquisition significant for Radiant?
This acquisition enhances Radiant's capabilities in North America and allows for scalability and increased market presence in Mexico.
How does Radiant Logistics strengthen its network?
By integrating Weport into its operations, Radiant Logistics enhances its logistics offerings and expands its service capabilities internationally.
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