In a move that expands its service offerings and geographic reach, global transportation and logistics solutions provider Radiant Logistics (NYSE American: RLGT) announced today the acquisition of Minnesota-based Viking Worldwide, Inc.
Viking Worldwide, established in 1993, brings a wealth of experience in specialized logistics for industries like high-tech, brand management, life sciences, and trade shows. Their operations in Minneapolis and Houston will be integrated into the Radiant network, bolstering Radiant’s presence in key markets.
This strategic acquisition aligns with Radiant’s focus on partnering with successful logistics entrepreneurs. Bohn Crain, Founder and CEO of Radiant, highlights this approach: “We’re excited to welcome Viking Worldwide to the Radiant family. This acquisition reflects our commitment to collaborating with passionate logistics professionals like Mike Rothmeyer, who will lead the integrated Minneapolis and Houston operations.”
The financial details of the transaction involve a performance-based payout structure, which minimizes upfront costs and aligns with industry practices for mergers and acquisitions.
Post-acquisition, Viking will continue to operate under the Service By Air brand for a period before transitioning to the Radiant brand later in 2024. This measured approach ensures a smooth integration and minimizes disruption for both companies’ valued customers.
“We are confident that this partnership will unlock significant opportunities for our customers and employees,” says Mike Rothmeyer, a key figure at Viking Worldwide. “We’ve enjoyed a successful collaboration with Radiant since 2015, and their unwavering support makes this a natural next step.”
The acquisition of Viking Worldwide strengthens Radiant’s position in the logistics industry by:
- Expanding service offerings: Adding specialized logistics expertise in high-demand sectors.
- Enhancing geographic reach: Gaining a foothold in strategic locations like Minneapolis and Houston.
- Building a stronger network: Integrating Viking’s established operations with Radiant’s existing infrastructure.
This strategic move positions Radiant Logistics for continued growth and leadership in the ever-evolving world of logistics.
