Radiant buys DBA Distribution Services for $12 million
Radiant Logistics will acquire DBA Distribution Services, a New Jersey-based logistics company founded in 1981, for $12 million.
Radiant will pay out $5.4 million in cash and $4.8 million in notes during the next three years. The remaining money will be paid out as the companies integrate their businesses. The move will add 25 DBA North American offices to Radiant’s network, a combination that Bohn Crain, Radiant’s chairman and CEO, said gives Radiant “one of the largest footprints in our industry.”
“This transaction is the ideal next step to accelerate Radiant’s growth and further strengthen our network with significant company-owned operations in the strategic gateway markets of Newark and Los Angeles, an expanded network footprint and enhanced service offering,” Crain said.
Crain also anticipates significant revenue growth. For the fiscal year ending June 30, 2012, he is predicting $285 million in annual revenues.
“This is a particularly exciting time for us,” Crain said. “We see even more opportunity on the horizon to deliver further revenue and earnings growth through a combination or organic and acquisitive growth initiatives.”