Radiant Logistics acquires 80% stake in Mexico-based Weport

RENTON, Wash. - Radiant Logistics, Inc. (NYSE American:RLGT), a $292 million market cap logistics company with annual revenues of $888 million, has acquired an 80% ownership interest in Weport, S.A. de C.V., a Mexico-based logistics provider, according to a press release issued Tuesday.

The transaction follows Radiant’s previous acquisition structure, with a portion of the purchase price payable in future periods based on performance, along with rights to purchase the remaining 20% stake later. The company’s strong financial position, with a healthy current ratio of 1.49 and moderate debt levels, supports its expansion strategy. InvestingPro analysis reveals several additional positive indicators about the company’s financial health.

Founded in 2016 and headquartered in Mexico City, Weport provides international ocean and airfreight forwarding, multi-modal domestic services, customs brokerage, and warehousing services throughout Mexico.

Following the acquisition, Weport will continue operating under the leadership of founder Ricardo Rochman, with plans to transition to the Radiant brand during 2026. Rochman will report to Randy Briggs, Radiant’s SVP of International Services.

"We were looking for a long-term partner with that same passion for servicing the customer and a shared vision to further advance our business," said Rochman in the press release statement.

Bohn Crain, Radiant’s Founder and CEO, noted that the company had been seeking the right opportunity to strengthen its capabilities in Mexico. "Weport is well positioned to serve as a platform to help us continue to scale our North American footprint," Crain stated.

Radiant Logistics provides technology-enabled global transportation and logistics solutions primarily to customers in the United States and Canada, offering freight forwarding along with truck and rail brokerage services from its network across North America and other global markets. According to InvestingPro data, analysts maintain a Strong Buy consensus on the stock, which appears undervalued based on their Fair Value assessment. For deeper insights into Radiant’s growth potential and comprehensive analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.

In other recent news, Radiant Logistics, Inc. announced a change in its independent registered public accounting firm. The company was informed that Moss Adams LLP, its former auditor, merged with Baker Tilly US, LLP. Consequently, Moss Adams resigned, and Baker Tilly was appointed as the new auditor. This decision was approved by the Audit Committee of Radiant Logistics’ Board of Directors. The audit reports from Moss Adams for the fiscal years ending June 30, 2024, and 2023, were not qualified or modified concerning uncertainty, audit scope, or accounting principles. These developments highlight the company’s ongoing efforts to maintain transparency and accuracy in its financial reporting.

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