- Radiant Logistics (NYSE:RLGT) entered into a letter agreement, by which, through its wholly owned subsidiary, Wheels International Inc., it has expressed its intent to acquire Lomas Logistics, a division of L.V. Lomas Limited for an undisclosed term.
- The transaction is expected to be completed in the quarter ended March 31, 2017.
- "We are happy to announce our pending transaction to acquire Lomas Logistics and are looking forward to welcoming Harry Smit and the entire Lomas Logistics team to the Radiant/Wheels family," remarked Radiant's Founder and CEO, Bohn Crain. "As we have discussed, we have always viewed Wheels International as a platform to support our Canadian centric acquisition initiatives and we are excited to have the opportunity to make some progress on this front. In addition to leveraging our core competency and purchasing power across several key market verticals, Lomas Logistics also brings a unique healthcare service offering with licenses from Health Canada to distribute medical devices, pharmaceutical and natural health products which is expected to accelerate the development of a robust healthcare service offering for Wheels and Radiant."
- Source: Press Release