Odyssey Logistics & Technology Acquires Capital Transportation Solutions
Purchase launches company into the fast-growing retail sector of managed logistics services
DANBURY, Conn. (June 29, 2011) — Odyssey Logistics & Technology Corporation (OL&T) announced today that it has recently acquired Capital Transportation Solutions (CTS), a non-asset-based third-party logistics provider specializing in less than truckload (LTL) transportation spend management. CTS provides unique truck brokerage services to exporters, importers and domestic shippers to lower their costs and increase their productivity through the use of proprietary strategies and “On Demand” software. Purchasing CTS diversifies OL&T into the retail, wholesale and manufacturing sectors and offers OL&T the capability to provide services to smaller process and chemical customers.
“The acquisition of CTS is a part of an overall growth strategy that expands our portfolio of service and technology,” said OL&T President and Chief Executive Officer Robert H. Shellman. “As we leverage our deep experience in the chemical and process industries, we will continue to extend our reach into new vertical markets. This move dramatically increases our footprint in the third-party LTL market, allowing us to better serve our current and future clients.” Shellman also expressed the commitment of OL&T and CTS to the state and local community. “We look forward to remaining a partner in the area and continuing to contribute to the local economy’s success.”
“Becoming a part of OL&T provides us both expansion opportunities into new areas,” said John Pas, CEO and founder, Capital Transportation Solutions. “OL&T has a large LTL portfolio and synergies exist that will offer both cost savings and efficient methods of freight management.”
The acquisition of assets and business of CTS and its 126 employees was made by Capital Transportation Solutions LLC, a wholly-owned affiliate of OL&T, which will maintain operations at the CTS facility in Kennesaw, GA. According to a May 2010 Inbound Logistics article, Georgia has designated logistics a strategic growth area for the state. The Georgia Department of Economic Development officials cite that the state is at the crossroads of north-south and east-west travel in North America, within a two-hour plane ride, or a two-day truck trip, to deliver cargo to 80 percent of the U.S. market as well as a national gateway for international cargo coming in through the deep-water ports of Savannah and Brunswick.
Odyssey Logistics & Technology (OL&T) delivers a comprehensive portfolio of managed logistics, international freight forwarding, carrier management, supply chain consulting, and third-party services. The Odyssey Global Logistics PlatformSM is OL&T’s technology infrastructure, and features a proprietary net-native transportation management system that supports the safe, reliable and efficient delivery of client products throughout the world.
With double-digit average annual revenue growth for the last five years, OL&T moves products with more than $55 billion in value between 185,000 origins and destinations and 220 ports worldwide. The company has received recognition as a SmartWay Partner by the EPA and is a Partner in the American Chemistry Council’s Responsible Care® Initiative.