Radiant Logistics Completes Acquisition Of Canada-Based Wheels Group

Radiant Logistics (NYSE MKT: RLGT) has announced that it has completed its acquisition of Wheels Group Inc. (TSXV: WGI), one of the largest non-asset based third party logistics providers based in Canada.

Under the Arrangement, Radiant purchased all of the outstanding common shares of Wheels for CAD$0.77 per share, payable in cash and shares of Radiant common stock. The total equity value of the transaction is approximately CAD$68.9 million, which consists of approximately CAD$33.9 million in cash and CAD$35.0 million in Radiant common stock.

Bohn Crain, Founder and CEO of Radiant, commented: “We believe the acquisition further enhances the value proposition we offer our existing operating partners who will now have the opportunity to access a broad range of rail and truck brokerage capabilities in the U.S. and Canada while further differentiating us in the marketplace as we seek to attract additional operators to our platform.”

Wheels, founded in 1988, provides intermodal and truck brokerage services throughout the United States and Canada along with third party logistics solutions and value added warehouse and distribution service offerings in support of U.S. shippers looking to access the Canadian markets. Wheels’ Canadian operations are headquartered Toronto, Ontario, while its U.S. operations are headquartered in Chicago, Illinois.

Category: General Update