Radiant Logistics Acquires Copper Logistics

Radiant Logistics has acquired Copper Logistics of Minneapolis and will use the company’s location near the Minneapolis/St. Paul airport to expand its transportation and logistics operations in the upper Midwest.

The deal is the latest in a series of acquisitions this year by Radiant, a publicly owned company based in Bellevue, Washington.

In June, Radiant acquired Service By Air Inc., a domestic and international freight forwarder with operations in New York and California, and Highways and Skyways Inc., a transportation agency based in Cincinnati.

Earlier in the year, Radiant merged with Canadian-based Wheels Group. In July, the company raised $38.4 million from the sale of stock to pay down debt and fund future growth.

“We have a particular interest in continuing to build density in strategic markets like Minneapolis-St. Paul, where we already have company-owned operations that we can leverage in driving both revenue and cost synergies,” Radiant CEO Bohn Crane said in a statement Nov. 2.

Although the exact terms of the Copper Logistics acquisition were not disclosed, Radiant officials said the company will pay 50% of the expected purchase price at closing, with the balance payable in subsequent periods based on the performance of the acquired operation.

Copper Logistics founder Bud Lutterman said joining with Radiant “gives our team the opportunity to work as shareholders and participate in the value that we all help create.”