Third-party logistics provider (3PL) Radiant Logistics Inc. has purchased Sandifer Valley Transportation and Logistics Ltd. (SVT) in a move that expands Radiant's cross-border capabilities with Mexico, the company said today.
Bellevue, Wash.-based Radiant is a non-asset-based provider that has grown through acquisitions such as the Canadian 3PL Lomas Logistics in January and the Minneapolis-based transportation and logistics services firm Copper Logistics Inc. in 2015.
The latest purchase will leverage SVT's trucking operations in McAllen, Texas to add the firm's range of domestic and international cross-border services to Radiant's portfolio, according to Radiant.
Terms of the transaction were not disclosed. Radiant said it paid a portion of the total purchase price at the deal's closing, and expects the amount of the transaction's balance to be tied to future performance. Radiant said SVT will transition to the Radiant brand. Radiant added that the company plans to make additional acquisitions in the transportation sector.
Radiant founder and CEO Bohn Crain said in a statement that the SVT transaction is "representative of a broader pipeline of opportunities available to us in the marketplace." With a $75 million credit line and minimal balance-sheet leverage, Radiant is "well positioned to on-board a significant number of new operating partners as we have the opportunity," Crain added.
