RADIANT LOGISTICS ACQUIRES STRATEGIC OPERATING PARTNER VIKING WORLDWIDE, INC.

Viking will continue to operate under the Service By Air brand and is expected to transition to the Radiant brand over the course of 2024

Radiant Logistics, Inc. (NYSE American: RLGT), a leading provider of technology-enabled global transportation and value added logistics solutions, has acquired the operations of Viking Worldwide, Inc. (“Viking”), a Minnesota based, privately held company with operations in both Minneapolis, Minnesota and Houston, Texas that has operated under the Company’s Service By Air brand since 2012. The Company structured the transaction similar to its previous transactions, with a portion of the expected purchase price payable in subsequent periods based on the future performance of the acquired operations.

Founded in 1993, Viking services a diversified account base specializing in the high-tech, brand management, life-sciences, and trade show industries from its strategically located mid-west gateway location in metro Minneapolis/St. Paul. On a post-closing basis, Viking will continue to operate under the Service By Air brand and is expected to transition to the Radiant brand over the course of 2024 as Viking’s Minneapolis operations combine with existing Company-owned operations in the area. 

Mike Rothmeyer of Viking commented, “Through years of dedicated service, our entire team has developed some very strong relationships with our customers, vendors and associates around the globe. Our customers have always remained our top priority whether they were here in the United States or abroad and this philosophy has been key to our success. 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. It has been rewarding to be a part of the building momentum of the Radiant network over the years and I am excited to now transition the business in a way that meets my own personal goals while also ensuring the continued success of our customers and employees. We look forward to flying the Radiant flag in both Minneapolis and Houston.” Mr. Rothmeyer will continue as the Regional Director for the acquired operations in both Minneapolis and Houston.

“The Viking transaction represents another great example of our work with our strategic operating partners,” remarked Radiant’s Founder and CEO, Bohn Crain. “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. We are pleased to be able to support Mike in this transition and are excited for this next chapter with Mike and his entire team.”

Category: Featured, General Update, Management, News