Radiant Logistics Extends Buying Spree with Copper Logistics
Radiant Logistics Inc. has acquired Copper Logistics Inc., extending the company’s buy-to-grow strategy even as the logistics industry steps back from a recent rush of consolidation.
Bellevue, Wash.-based Radiant said on Monday that it acquired privately-held Copper, based in Minneapolis, and that Copper will serve as Radiant’s “mid-west gateway.“ Radiant paid 50% of the expected purchase price up front and will pay the remaining balance based on Copper’s performance after the acquisition, but didn’t disclose the value of the transaction.
The announcement comes amid a slowdown in merger activity in an otherwise blockbuster year for logistics deals, including several acquisitions by XPO Logistics Inc. that have shaken up the industry.
Radiant and Copper are both asset-light companies that provide domestic and international freight forwarding services, or coordination of warehousing as well as air, ocean and ground shipping for retailers and manufacturers. Their tie-up is the latest in a string of acquisitions of non-asset based providers by Radiant in the past year that have nearly doubled the Radiant’s sales, a strategy the company plans to continue.
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