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RENTON, Wash. - Radiant Logistics, Inc. (NYSE American: RLGT), a prominent third-party logistics firm with a market capitalization of $281 million and annual revenue exceeding $858 million, has announced the acquisition of Texas-based Universal Logistics, Inc., which has been operating under Radiant’s Airgroup brand since 2001. According to InvestingPro analysis, the company currently trades below its Fair Value, suggesting potential upside opportunity. Universal Logistics specializes in time-sensitive air and ocean freight for the oilfield services and HVAC industries. The company will continue to operate under the Airgroup brand, with a planned transition to the Radiant brand by the end of 2025, as it integrates with Radiant’s existing operations in Houston.
David Rogers of Universal expressed enthusiasm for the acquisition, highlighting the strong relationships his team has built globally and the continuity this move ensures for Universal’s customers and employees. Radiant’s CEO, Bohn Crain, cited the acquisition as an example of Radiant’s strategy to partner with logistics entrepreneurs, providing them an exit strategy while expanding Radiant’s network. The company’s financial health is rated as FAIR by InvestingPro, with analysts setting price targets between $9 and $10, reflecting confidence in the company’s growth strategy. This acquisition follows Radiant’s previous expansions, including the acquisition of Viking Logistics in April 2024 and Foundation Logistics and Services in September 2024.
Radiant Logistics, operating through an extensive network of offices in North America and globally, offers a range of services including domestic and international freight forwarding, truck and rail brokerage, warehouse and distribution, customs brokerage, order fulfillment, inventory management, and technology services.
The company’s forward-looking statements, as part of the press release, are based on expectations and projections about future events and are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated. These statements are not guarantees of future performance and are subject to change.
This news is based on a press release statement and reflects the ongoing growth and consolidation efforts within the logistics industry by Radiant Logistics. For investors seeking deeper insights, InvestingPro offers comprehensive analysis through its Pro Research Report, available for over 1,400 US stocks, including detailed metrics and expert analysis of companies like Radiant Logistics.
In other recent news, Radiant Logistics has reported a significant increase in financial performance for Q2 FY2024, with net income soaring by 556.5% year-over-year to $6.47 million, and earnings per share reaching $0.14 on revenues of $264.5 million. This robust performance exceeded market expectations, with the actual EPS surpassing the forecast by 94.5%. Additionally, Radiant Logistics has been active in expanding its operations through strategic acquisitions. The company completed the acquisition of Philadelphia-based USA Logistics Services, Inc., and USA Carrier Services, LLC, enhancing its presence in the Mid-Atlantic region. Furthermore, Radiant acquired Transcon Shipping Co., Inc., a move aimed at bolstering its international capabilities in key gateway locations. These acquisitions are expected to integrate into the Radiant brand and enhance its service offerings. CEO Bohn Crain emphasized that these transactions align with Radiant’s strategic goals. These developments reflect Radiant’s ongoing efforts to strengthen its market position and service capabilities.
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