Radiant Logistics announced Wednesday it has acquired Focus Logistics, one of its strategic operating partners, for an undisclosed sum.
Michigan-based Focus is a domestic and international freight forwarder primarily serving customers in the marine, aerospace and trade show sectors. It was founded in 2003 by Terrie Evans and Cliff Kisielewski and began operating under Service By Air in 2006. (Radiant acquired Service By Air in June 2015.)
Focus will merge with an existing Radiant operation in Detroit. Kisielewski will lead that unit as general manager. Evans will be retiring.
While no financial terms were provided, Radiant said a portion of the purchase price will be tied to Focus’ future performance – a structure similar to that of past Radiant acquisitions.
“Since Radiant acquired Service By Air back in 2015 they have proved to be a great partner, providing us a much larger platform to support and grow our business,” Kisielewski said in a news release after the market closed on Wednesday. “It has been rewarding to be a part of the building momentum of the Radiant network over the years and we are excited to now transition the business in a way that meets our own personal goals while also ensuring the continued success of our customers and employees.”
Renton, Washington-based Radiant (NYSE: RLGT) ended its fiscal year (June 30) with $25 million in cash and an untapped $200 million credit facility. On its quarterly call in September, Radiant said it would use its clean balance sheet to pursue both organic growth and acquisitions, including the conversion of privately held agents into company-owned stations.
Radiant completed six acquisitions in its recent fiscal year.
It acquired Daleray Corp. in October 2023, Select Logistics (and sister company Select Cartage) in February, Viking Worldwide in April, Cascade Transportation and DVA Associates in June, and Foundation Logistics & Services in September.
“The Focus transaction represents yet another great example of our work with our strategic operating partners,” said Bohn Crain, Radiant founder and CEO. “We launched Radiant in 2006 with the goal of partnering with logistics entrepreneurs who would benefit from our unique value proposition and the built-in exit strategy available to the entrepreneurs participating in our network.”
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