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Red Arts Capital acquires Canadian 3PL Radius Logistics

Private equity firm’s portfolio includes Midwest Motor Express and Midnite Express

Red Arts Capital continues to build out logistics portfolio (Photo: Jim Allen/FreightWaves)

Red Arts Capital announced Thursday the acquisition of Vancouver, British Columbia-based third-party logistics provider Radius Logistics.

Radius provides integrated transportation, warehousing and distribution services throughout North America. The full-service 3PL’s lineup includes ground, air and ocean transportation options as well as domestic and international parcel shipping through Radius Courier.

Financial terms of the transaction were not disclosed.

“We are thrilled to partner with Radius Logistics as the company continues to expand into new opportunities and embark on its next phase of growth,” said Red Arts co-founder and Managing Partner Chad Strader. “The Radius team has built an extraordinary business and is led by a best-in-class management team. We believe that Radius Logistics is ideally positioned to ensure superior service for existing customers and pursue geographic and service expansion activities.”

Red Arts Capital is Chicago-based supply chain- and logistics-focused private equity firm. The firm partners and invests in mature largely family-owned, privately held businesses. A year ago, Red Arts partnered with other investment firms to acquire MME Inc. and its subsidiaries, less-than-truckload carrier Midwest Motor Express and dry van truckload carrier Midnite Express.

“This is an exciting moment for our company and an investment partnership that we believe will propel Radius Logistics’ future success,” said Radius Logistics founder and CEO Roger Harrison. “In Red Arts Capital, we have found the right industry experts and investment partners with both broad logistics and transportation experience and a clear desire to invest resources in our future growth.”

TCF Capital Funding and Granite Creek Capital Partners provided the debt financing.

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Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.