Radiant Logistics acquires Foundation Logistics & Services, terms not disclosed

Radiant Logistics announced it has acquired Foundation Logistics & Services, a Humble, Texas -based, privately held company that provides a full range of specialized transportation and logistics services for companies involved in the exploration, drilling, and production of oil and gas. 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 2014, Foundation specializes in servicing the oil and gas industry with a focus on the transportation of hazardous materials, including explosives, and urgent oilfield equipment to points around the world. On a post-closing basis, Foundation will continue under the leadership of co-founders Larry Earley and Cindy Jones and continue to operate as Foundation Logistics with the expectation that the company will ultimately transition to operate under the Radiant brand in 2025. Post-closing, both Larry Earley and Cindy Jones will report to Tim O’Brien, SVP and General Manager of Radiant’s U.S. forwarding operations.