Radiant Logistics announced it has acquired time-critical transportation and logistics provider Cascade Transportation.
Seattle-based Cascade was founded in 1982. Its primary customers include retailers, e-commerce companies, furniture manufacturers and trade show-related companies. The company’s current leadership team will remain in place, and Cascade will operate as part of Radiant Global Logistics.
Financial terms of the transaction were not provided but Radiant said a portion of the undisclosed purchase price will be tied to future performance.
Renton, Washington-based Radiant (NYSE: RLGT) closed its fiscal quarter ended March 31 with $31.2 million in cash and no outstanding balance on its credit facility. It said it would use available capital to continue to convert agent stations to company-owned locations, execute acquisitions and make share repurchases.
“We have purposefully positioned ourselves to bring value to logistics entrepreneurs and believe that the Cascade transaction is representative of the broader pipeline of opportunities available to us in the marketplace,” said Bohn Crain, Radiant founder and CEO, in a news release. “We are pleased to be able to support Cascade in this transition and are excited for this next chapter with David and the entire team.”