Radiant Logistics Acquires Copper Logistics

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Radiant Logistics, Inc. (NYSE MKT:
RLGT
), a third party logistics and multimodal transportation services company, today announced it has acquired the operations of Copper Logistics, Inc. ("Copper"), a Minneapolis, Minnesota based privately held company that provides a full range of domestic and international transportation and logistics services across North America. The Company paid approximately fifty percent (50%) of the expected purchase price at closing with the balance payable in subsequent periods based on the future performance of the acquired operation. On a post-closing basis, Copper Logistics will transition to the Radiant brand and operate as part of the Company's mid-west gateway location near the Minneapolis/St. Paul airport ("MSP"). "We are proud to announce our partnership with Bud Lutterman and the entire MSP team," remarked Radiant's Founder and CEO, Bohn Crain. "We have purposefully positioned ourselves to bring value to logistics entrepreneurs like Bud and believe that the Copper transaction is representative of a broader pipeline of opportunities available to us in the marketplace. We have a particular interest in continuing to build density in strategic markets like MSP where we already have company owned operations that we can leverage in driving both revenue and cost synergies. We currently have company owned operations in 15 markets across North America and each of these locations represents a platform from which we can continue to attract like-minded logistics entrepreneurs who see value in our platform. With the benefit our of recent equity raise we have very low leverage on our balance sheet at this point, a $65.0 million credit facility that is virtually untapped and we are well positioned to on-board a significant number of new operating partners as we have the opportunity." Bud Lutterman, of Copper Logistics commented, "We are thrilled about joining Radiant. Through years of dedicated service, our customers have always remained our top priority whether they were here in U.S. or abroad. This philosophy has been key to our success. 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 and provide an opportunity for growth for our employees. We found that partner in Radiant. Radiant has a real appreciation for the needs for the local owner/entrepreneur and a clear and achievable plan for building a world-class logistics organization. We are looking forward to leveraging our own strengths along with the capabilities of the Radiant network to bring additional value to our customers while enjoying the benefits of participating in an organization that, through its status as a public company, gives our team the opportunity to work as shareholders and participate in the value that we all help create." Mr. Lutterman will continue as Vice President of Sales for Radiant's MSP location.
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