Radiant Logistics of Bellevue, Wash.
, said it has completed the acquisition of assets of its operating partner Marvir Logistics, a privately held company based in Los Angeles that has operated under Radiant's Airgroup brand since 2006.
Radiant said it structured the transaction similar to its previous acquisitions with a portion of the expected purchase price payable in subsequent periods based on the future performance of the acquired operation.
Marvir will continue operating under the Airgroup brand through the remainder of 2012 and is expected to transition to the Radiant brand in early 2013 as Marvir is combined with existing Radiant-owned operations in Los Angeles.
Radiant said the combination is expected to provide meaningful efficiencies associated with the elimination of redundant facilities.
Michael St. Julien will continue as regional director responsible for operations of the newly combined organization that is expected to generate approximately $15 million per year in revenue. Walter Benvenuto will continue as vice president of sales, and Tom Bowling will retire after 40 years in the the transportation industry. - Chris Dupin