The structure of the transaction is similar to Radiant’s previous acquisitions, with a portion of the expected purchase price payable in subsequent periods based on the future performance of the acquired operation.
IFS is a licensed and bonded ocean transport intermediary (OTI) and known for its ocean forwarding expertise and in-depth industry knowledge and support of the forest products industry common throughout the Pacific Northwest, Radiant said in a statement.
Radiant said it will maintain the IFS brand in support of the specialized forwarding requirements of the pulp, paper and wood products industry while IFS’ legacy air freight business, historically operated under the Airgroup brand, will be rebranded as Radiant Global Logistics.IFS founders Bob and Julie Hansen will continue in leadership roles at IFS and Radiant’s station in Portland.
Financial terms of the acquisition were not disclosed. – Eric Johnson
