Radiant Buys ALBS Logistics
Third-party services provider Radiant Logistics said it has acquired New York counterpart ALBS Logistics. It’s the third acquisition made by Radiant in the past 10 months.
Although no terms were disclosed, Radiant said about half of the purchase price will be paid at closing with the rest tied to future ALBS earnings.
ALBS, which generated revenue of about $20 million in the 12 months ended Aug. 31, serves manufacturers, distributors and retailers at New York’s JFK airport.
In December, Radiant purchased Laredo, Texas-based Isla International, which specializes in cross-border shipments, for $15 million in cash and stock. Eight months earlier, Radiant paid $12 million to purchase New Jersey’s Distribution by Air.
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