RLGT - Radiant Logistics scoops up Navegate for about $35 million

Navegate Inc. offers freight forwarding, logistics, and custom brokerage solutions, and specializes in cloud-based software and vendor portal platform. It serves customers in the U.S. The transaction is valued at $35.0 million, subject to certain hold-back provisions and working capital adjustments as of the closing date. Navegate generated ~$5.9 million in normalized EBITDA on ~$88.0 million in revenues for the twelve months ended September 30, 2021. In addition to continuing to grow its organic account base, Navegate will generate cross-selling opportunities for Radiant as it integrates its global trade management services with Radiant. Post-closing, Navegate will operate as a wholly owned subsidiary of Radiant Logistics (NYSE:RLGT) under the leadership of Joe Pelletier and Chad Bickett.

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Radiant Logistics scoops up Navegate for about $35 million