Strengthens Brokerage Platform with Enhanced
Intermodal Capabilities
RENTON,
Wash., Dec. 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 assets and
operations of TCB Transportation Associates, LLC d/b/a TCB
Transportation ("TCB"), a St Louis,
Missouri-based, privately held intermodal marketing company
specializing in the movement of 40 and 53-foot containers across
North America. The Company
acquired TCB through its wholly-owned subsidiary Radiant Road and
Rail, Inc. and 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 1999, TCB operates as a "one-stop shop", offering
true door-to-door service for its shipper customers by leveraging
its relationships with steamship lines, Class I railroads and its
extensive drayage network. The company is recognized as one of the
top 40-foot service providers in the market, serving multiple
end-markets, including forestry products, food & beverage,
metals & mining and chemicals. On a post-closing basis, TCB
will continue under the leadership of founder Jerry Kausch, Jr. with the expectation that the
company will ultimately transition to operate under the Radiant
brand in 2025. Post-closing, Jerry Kausch,
Jr. will report to Christopher
Brach, SVP and General Manager of Radiant Road & Rail,
Inc.
Jerry Kausch, Jr. of TCB commented, "Through years of
dedicated service, our customers have always remained our top
priority. We were looking for a long-term partner with that same
passion for servicing the customer and a shared vision to further
advance our business, while also providing an opportunity for
growth for our employees. We found that partner in Radiant, and I
am excited to leverage our own strengths along with the broader
capabilities of the Radiant network to bring additional value to
our customers."
"We are proud to announce our partnership with Jerry,
Kent Fensom, Dan Byington and
the entire TCB team," remarked Radiant's Founder and CEO,
Bohn Crain. "We have been patiently
looking for the right transaction to accelerate the growth of our
bi-modal brokerage platform and we found it in our partnership with
Jerry and TCB. We believe there is a tremendous opportunity to
support TCB's account base with our robust technology platform
while introducing them to our over-the-road brokerage,
international forwarding and value-added service offerings."
About Radiant Road & Rail
Radiant Road & Rail, Inc. (rrs@radiantdelivers.com) is a
wholly owned subsidiary of Radiant Logistics, Inc. and serves as
the platform for the Radiant Network's U.S intermodal and
over-the-road brokerage service offering. Originally founded in
1938 as Clipper Exxpress, the company was a pioneering intermodal
service provider, offering "piggyback" rail transportation by
contracting flat space on rail cars to transport semi-trailers
across the continent, thereby eliminating the need for a tractor
with every shipment. Over its 85-year history, Radiant Road &
Rail has evolved to become a leader in intermodal, over-the-road
and temperature-controlled transportation services leveraging
decades of mode optimization experience to offer rail as a
valuable, eco-friendly mode of on-time, long distance
transportation throughout the United
States, Canada, and
Mexico.
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, 2024 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-tcb-transportation-302321652.html
SOURCE Radiant Logistics, Inc.