Continuing to follow a strategy of growing by acquisitions, third-party logistics provider (3PL) Radiant Logistics Inc. has agreed to purchase the Canadian 3PL Lomas Logistics, the companies announced Thursday.
Bellevue, Wash.-based Radiant will conduct the purchase through its Canadian subsidiary, Wheels International Inc., buying Lomas Logistics, a division of L.V. Lomas Ltd. With headquarters in Mississauga, Ont., Lomas Logistics serves companies across a range of industries including consumer goods, healthcare, food, and technology, generating US$13.4 million in revenues for calendar 2015.
"In addition to leveraging our core competency and purchasing power across several key market verticals, Lomas Logistics also brings a unique healthcare service offering, with licenses from Health Canada to distribute medical devices, pharmaceutical, and natural health products, which is expected to accelerate the development of a robust healthcare service offering for Wheels and Radiant," Radiant founder and CEO Bohn Crain said in a release.
Terms of the deal were not disclosed, but Radiant said the transaction is expected to close in the quarter ending March 31, 2017.
The purchase is the latest move by Radiant in its plan to grow by acquisitions. The company purchased Minneapolis-based transportation and logistics services firm Copper Logistics Inc. in 2015.
Radiant is a non-asset-based provider, with minimal investment in equipment, that delivers supply chain solutions through a network of company-owned and operating-partner locations across North America, the company says. Radiant's business strategy is to "build a global transportation and supply chain management company through the strategic acquisition of best-of-breed non-asset-based transportation and logistics providers," the company website says.