Generational Capital Markets (GCM), a prominent mergers and acquisitions advisor for privately held businesses and a member of FINRA/SIPC, is pleased to announce the successful sale of its client, Foundation Logistics, to Radiant Logistics. The acquisition, effective September 1, 2024, marks a significant milestone for both companies.
Foundation Logistics, based in Humble, Texas, is a leading provider of specialized transportation and logistics services tailored for the oil and gas industry. Since its founding in 2014, the company has focused on the safe and efficient transport of hazardous materials, explosives, and urgent oilfield equipment to global locations.
Radiant Logistics, a publicly traded company with operations in the U.S. and Canada, is renowned for its technology-enabled global transportation and logistics solutions. Radiant offers a broad spectrum of services, including domestic and international freight forwarding, truck and rail brokerage, as well as value-added logistics such as warehouse and distribution, customs brokerage, order fulfillment, inventory management, and technology services. Its extensive network of Radiant and agent-owned offices spans North America and other key international markets.
The transaction, structured with part of the purchase price contingent on the future performance of Foundation Logistics, is designed to align with GCM’s standard deal practices. Foundation Logistics will continue to operate under the leadership of co-founders Larry Early and Cindy Jones and will transition to the Radiant brand in 2025. During the interim period, Larry Early and Cindy Jones will report to Tim O’Brien, SVP and General Manager of Radiant’s U.S. forwarding operations.
Larry Early of Foundation Logistics commented, “Our customers have always been our top priority, and we sought a long-term partner with a shared passion for customer service and a vision for growth. Radiant is that partner, and Cindy and I are excited to combine our strengths with Radiant’s extensive network to enhance value for our customers.”
Radiant Logistics’ Founder and CEO, Bohn Crain, added, “I am particularly thrilled about this partnership, as I have strong ties to Humble, Texas, and the oil patch. This acquisition allows us to expand our capabilities in the oil and gas sector and continue to support our clients with the Radiant brand.”
The successful closing of this transaction was led by GCM’s Senior Managing Director of M&A, Chris Heckert, with support from Vice President of M&A, Troy Blakely, and Managing Director, Eric Matuszak, who initially established the relationship with Foundation Logistics.
Chris Heckert remarked, “The synergy between Foundation Logistics and Radiant Logistics is exceptional. I am eager to see the remarkable achievements these two companies will accomplish together.”