Radiant Logistics Completes Deal to Acquire Dedicated Logistics Technologies
Radiant Logistics Inc. has completed a deal to acquire Dedicated Logistics Technologies, a privately held company with operations in Newark, N.J., and Los Angeles.
A purchase price was not disclosed, but after Dedicated Logistics is integrated into Radiant’s current business, the combination is expected to generated about $28 million in annual revenue in the two cities.
Ken Fry, who ran Dedicated Logistics, will run the operations under the Service By Air brand. Alan Brown and David Argen also will continue in leadership roles in the combined organization.
“We launched Radiant in January of 2006 with the goal of bringing value to logistics entrepreneurs like Ken, Alan and David, who would benefit from our unique value proposition with the immediate opportunity to become shareholders and share in the value that they were helping to create,” said Bohn Crain, Radiant’s founder and CEO. “We believe that the Dedicated transaction is also indicative of the broader opportunity available to us in the marketplace and that there will be more entrepreneurs, both internal and external to our existing network, that will look to join our ranks.”
The combination is also expected to save money by closing redundant facilities in New Jersey.
Radiant ranks No. 36 on the Transport Topics sector list of the top freight brokerage firms in North America.