RADIANT LOGISTICS ACQUIRES OPERATIONS OF DVA ASSOCIATES, INC.

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Jun 06, 2024, 09:00 ET

Strengthens Company's presence in Portland, Oregon

RENTON, Wash., June 6, 2024 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE American: RLGT), a leading provider of technology-enabled global transportation and value added logistics solutions, today announced it has acquired the operations of DVA Associates, Inc. ("DVA"), a Portland, Oregon based, privately held company that provides a full range of domestic and international transportation and logistics services across North America. 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.

Originally founded in 1984, DVA services a diversified account base including the footwear, apparel and tradeshow industries. From inception through the date of acquisition, DVA operated as part of a competing transportation group. On a post-closing basis, DVA will continue under the leadership of Danielle Van Auken and ultimately combine with Radiant's legacy company owned operations in the Portland market.

Danielle Van Auken of DVA commented, "We were looking for a long-term partner with that same passion and priority for servicing the customer and we found that partner in Radiant. Now that we have the opportunity to fly the Radiant flag here in Portland, we are looking forward to leveraging our own strengths along with the capabilities of the Radiant network to bring additional value to our customers while also providing our team with the professional growth opportunities that come with being part of a larger organization."

"We are pleased to be able to support DVA in this transition and are excited for this next chapter with Danielle and the entire team in Portland," remarked Radiant's Founder and CEO, Bohn Crain. "We have purposefully positioned ourselves to bring value to logistics entrepreneurs like Danielle and believe that the DVA transaction is representative of a broader pipeline of opportunities available to us in the marketplace. We have a particular interest in continuing to build density in markets like Portland, where we already have company owned operations and have the opportunity for incremental revenue and cost synergies at the node level of our network. We currently have company owned operations in over 20 markets across North America and each of these locations represents a platform from which we can continue to attract like-minded logistics entrepreneurs who see value in our platform. We remain debt free at this point, and with our untapped $200 million credit facility we are well positioned to on-board a significant number of new operating partners as we have the opportunity."

About Radiant Logistics (NYSE American: RLGT)

Radiant Logistics, Inc. (www.radiantdelivers.com) is a publicly traded third party logistics company providing technology-enabled global transportation and value added logistics solutions primarily to customers based in the United States and Canada. Through its comprehensive service offering, Radiant provides domestic and international freight forwarding along with truck and rail brokerage services to a diversified account base including manufacturers, distributors and retailers which it supports from an extensive network of Radiant and agent-owned offices throughout North America and other key markets around the world. Radiant's value-added logistics services include warehouse and distribution, customs brokerage, order fulfillment, inventory management and technology services.

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding future operating performance, events, trends and plans. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected revenues and costs, and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause our actual results to differ from our expectations, include but are not limited to, the performance of our historic business at levels consistent with recent trends and reflective of the synergies we believe will be available to us as a result of our recent acquisitions; and those risk factors that apply to our operations as disclosed in Item 1A of our Report on Form 10-K for the year ended June 30, 2023 and other filings with the Securities and Exchange Commission and other public documents and press releases which can be found on our web-site (www.radiantdelivers.com). Readers are cautioned not to place undue reliance on our forward-looking statements, as they speak only as of the date made. Such statements are not guarantees of future performance or events and we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances occurring after the date hereof.

SOURCE Radiant Logistics, Inc.