Radiant Logistics acquires Transcon Shipping
Radiant Logistics, Inc., a leading provider of technology-enabled global transportation and value added logistics solutions, announced it has acquired Transcon Shipping Co., Inc., a California-based, privately held company that combines decades of excellence in ocean freight forwarding services with a complementary portfolio of air freight and other transportation services from strategic gateway locations in Los Angeles, New York and Chicago. 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.
Founded in 1997, and under the leadership of Terry Lynch, Transcon has developed significant ocean import business from the transpacific including buyer consolidation services, less-than-container-load (LCL), full container loads (FCL) and special projects including over dimensional cargo. Transcon leverages a robust international agent network to service globally recognized customers in attractive industries, including furniture, recreational automotive, food and consumer goods industries.
Based on historic financial statements provided by its management, Transcon generated approximately $4.0 million in normalized EBITDA on approximately $75.0 million in revenues for the calendar year ended December 31, 2024. On a post-closing basis, Transcon is expected to transition to the Radiant brand over the course of 2025 and will combine with existing company owned operations in Los Angeles, New York and Chicago. Terry Lynch will continue to support the Company’s international growth initiatives as VP of Global Network Development and will report to Randy Briggs, Radiant’s SVP International Services.
Terry Lynch of Transcon commented, “Through years of dedicated service, our customers have always remained our top priority. 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. We found that partner in Radiant. I am excited for the opportunity to leverage our own strengths along with the capabilities of the larger Radiant network to bring additional value to our customers, while introducing the Radiant organization to our robust international agent network.”
“We are excited to announce our partnership with Terry, Josephine Leung, Michael Husslein, Chris Cervana and the entire Transcon team,” remarked Radiant’s Founder and CEO, Bohn Crain. “We have been looking for the right next transaction to complement the Radiant network and we found it in Transcon. In addition to solidifying our international capabilities in the key gateway markets of Los Angeles, New York and Chicago, we expect this transaction will create an interesting fly-wheel effect as we introduce Trancon’s customer base to our larger suite of services, including our inland transportation capabilities and Navegate, our global trade management platform.”