Radiant Logistics announced on Tuesday that it has obtained 80 % of its shares in the transportation provider based in Mexico and theport.
Private WEPORT provides ocean and air services and offers multinational internal services. The company also offers value added services, including customs and warehousing brokerage.
The financial terms of the transaction have not been leaked.
Similar to the past purchase of Radiant (NYSE: RLGT), the purchase price will be based on the future financial performance, and Radiant has the option to obtain the remaining 20 % from the purchased entity.
“We are looking for the next deal to complete the Radiant Network and to enhance our capabilities in Mexico and find it in WEPORT,” said Bon Crane, the founder and CEO of Radiant. “In addition to supporting the Radiant Heritage and Customers throughout Mexico, WEPORT is well positioned to be a platform to help us continue the North American footprint scale.”
WEPORT will continue to operate under its flag as the current leadership continues. Next year will be transferred to the name of Radashi.
“I am excited to use our strengths along with the capabilities of our larger Radiant Network to support our customers, while supporting the broader radiation network in Mexico,” said Ricardo Roachman, the founder of theport andport.
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