Radiant Logistics said it has acquired transportation and logistics provider Foundation Logistics & Services.
Humble, Texas-based Foundation is a 10-year-old logistics services provider to companies focused on the exploration, drilling and production of oil and gas. It specializes in the global transport of hazardous materials, explosives and oilfield equipment.
Financial terms of the transaction were not disclosed, but like other acquisitions Radiant (NYSE: RLGT) has made, a portion of the purchase price will be paid based on future performance of the acquired entity.
Foundation will continue to be operated by its founders, Larry Earley and Cindy Jones. The company will transition and operate under the Radiant banner at some point next year.
“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, while also providing an opportunity for growth for our employees,” Earley said in a news release.
Renton, Washington-based Radiant acquired time-critical logistics provider Cascade Transportation in June.
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