Bellevue, WA/Brampton, ON (pcJ News Briefs) – Radiant Logistics, Inc. (NYSE MKT: RLGT), a third party logistics and multi-modal transportation services company, through its wholly owned subsidiary, Wheels International Inc., has acquired Lomas Logistics, a division of L.V. Lomas Limited. Financial terms were not disclosed.
Lomas Logistics operates as a third party logistics provider serving companies across a range of industries including consumer goods, healthcare, food, chemicals and technology and operates from locations in Ontario and British Columbia, Canada.
Lomas Logistics, generated approximately CDN $17.0 million in revenues for calendar 2016, which resulted in approximately CDN $2.1 million in normalized adjusted EBITDA.
Lomas Logistics will transition to operate as Wheels International.
“The acquisition of Lomas Logistics enhances our ability to provide distribution services while leveraging our full suite of transportation services through the Radiant / Wheels network to a broader and more diverse group of target industries. We are thrilled to welcome Harry Smit and the Lomas Logistics team to the Radiant / Wheels organization. We expect the integration to take place quickly over the next couple of months,” said Radiant’s Founder and CEO, Bohn Crain.
photo credit: Lomas Logistics