RENTON,
Wash., Oct. 2, 2023 /PRNewswire/ -- Radiant
Logistics, Inc. (NYSE American: RLGT), a leading provider of
technology-enabled global transportation and value added logistics
solutions, today announced it has acquired the operations of
Daleray Corporation ("Daleray"), a Fort
Lauderdale, Florida based, privately held company that has
operated under the Company's Distribution By Air brand since
2014. The Company structured the transaction similar to its
previous transactions, with a portion of the expected purchase
price payable in subsequent periods based on the future performance
of the acquired operations.
Originally founded in 2003 and operated by Ray Fulford and Dale
Kloss, Daleray provides both domestic and international
freight forwarding services and is well recognized for its
expertise and in-depth knowledge and support of the cruise line
industry. On a post-closing basis, Daleray will transition to
operate as Radiant Global Logistics ("RGL-FLL") and will anchor the
company's cruise logistics service offerings in south
Florida. Dale Kloss will
continue with the company as Director – Cruise Logistics, focused
on developing advanced solutions for the cruise line industry.
Ray Fulford will transition into a
well-earned retirement after 53 years of service in the
transportation industry. Assuming responsibility for the day-to-day
operations of the station will be Michael
Cuevas.
Dale Kloss commented, "Through
years of dedicated services, our entire team here in Florida has developed some very strong
relationships with our customers, vendors and associates around the
globe. Our customers have always remained our top priority whether
they were here in the United
States or abroad and this philosophy has been key to our
success. Back in 2014 Ray and I were looking to align ourselves
with a partner who shared our passion for the business. We found
that and so much more with Radiant: we are proud to fly the Radiant
flag here in Florida. Radiant has consistently provided an
environment for us to grow our business over the years."
Ray Fulford echoes this
sentiment. "I have appreciated the partnership with Radiant and
enjoyed working with a professional and sound organization. It
has been exciting to watch and be a part of the building momentum
of the Radiant network and we are excited to now transition our
business in a way that meets our own personal goals, while ensuring
the continued success of our customers and employees."
"The Daleray transaction and our long-standing partnership with
Ray and Dale are significant to the continued evolution of
Radiant," remarked Radiant's Founder and CEO, Bohn Crain. "We launched Radiant in 2006 with
the goal of partnering with logistics entrepreneurs who would
benefit from our unique value proposition and the built-in exit
strategy. It is satisfying to be able to support Ray in his
well-deserved retirement while at the same time continuing forward
to an exciting next chapter with Dale and the team in Florida as we continue to develop and deliver
advanced supply chain solutions for their cruise line and other
customers."
About Radiant Logistics (NYSE American: RLGT)
Radiant Logistics, Inc. (www.radiantdelivers.com) is a publicly
traded third party logistics company providing technology-enabled
global transportation and value added logistics solutions primarily
to customers based in the United
States and Canada. Through
its comprehensive service offering, Radiant provides domestic and
international freight forwarding along with truck and rail
brokerage services to a diversified account base including
manufacturers, distributors and retailers which it supports from an
extensive network of Radiant and agent-owned offices throughout
North America and other key
markets around the world. Radiant's value-added logistics services
include warehouse and distribution, customs brokerage, order
fulfillment, inventory management and technology services.
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding future operating performance, events, trends and
plans. All statements other than statements of historical
fact contained herein, including, without limitation, statements
regarding our future financial position, business strategy,
budgets, projected revenues and costs, and plans and objectives of
management for future operations, are forward-looking
statements. Forward-looking statements generally can be
identified by the use of forward-looking terminology such as "may,"
"will," "expects," "intends," "plans," "projects," "estimates,"
"anticipates," or "believes" or the negative thereof or any
variation thereon or similar terminology or expressions. We have
based these forward-looking statements on our current expectations
and projections about future events. These forward-looking
statements are not guarantees and are subject to known and unknown
risks, uncertainties and assumptions about us that may cause our
actual results, levels of activity, performance or achievements to
be materially different from any future results, levels of
activity, performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause our
actual results to differ from our expectations, include but are not
limited to, the performance of our historic business at levels
consistent with recent trends and reflective of the synergies we
believe will be available to us as a result of our recent
acquisitions; and those risk factors that apply to our operations
as disclosed in Item 1A of our Report on Form 10-K for the year
ended June 30, 2023 and other filings
with the Securities and Exchange Commission and other public
documents and press releases which can be found on our web-site
(www.radiantdelivers.com). Readers are cautioned not
to place undue reliance on our forward-looking statements, as they
speak only as of the date made. Such statements are not guarantees
of future performance or events and we undertake no obligation to
disclose any revision to these forward-looking statements to
reflect events or circumstances occurring after the date
hereof.
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SOURCE Radiant Logistics, Inc.