Odyssey Logistics & Technology Corporation (“OL&T”), today
announced its acceptance of a non-controlling capital investment from
Goldman, Sachs & Co. (NYSE: GS). OL&T has indicated that the capital
will be used in its ongoing programs of strategic acquisitions and
global expansion.
“This is an exciting time for Odyssey,” said Bob Shellman, OL&T’s
president and CEO. “Goldman’s decision to provide non-controlling
capital will help Odyssey to build on the success we have had in
executing our strategic vision. Many of our existing investors,
including Boston Millennia Partners, CMEA Ventures, and Strategic
Shipping (Southport, CT), also participated in the investment,’’
Shellman noted.
The Goldman Sachs investing team was led by Michael McGinn, co-head of
Goldman Sachs’ Private Capital Investing group, and Stephen Kerns, also
a member of the group. “We are extremely pleased to have the opportunity
to invest in Odyssey,” said McGinn. “We applaud the work of the
management team and the existing owners growing Odyssey into a leading
global logistics provider.”
Cosmo Alberico, OL&T’s executive vice president and COO, added, “We will
utilize Goldman’s capital support in our roll-out of new service
offerings in the APAC region, and in additional acquisitions that will
complement our existing offerings and further extend our reach into new
verticals.” Alberico continued, “We expect that this new round of
investment will contribute to the continuation of Odyssey’s seven year
performance of year-over-year, double-digit earnings growth.”
“As global logistics chains continue to grow in complexity, we expect
Odyssey’s customer value proposition to only increase,” McGinn added.
“In addition, we look forward to supporting Odyssey’s continued
expansion into new markets and industry verticals as the Company
identifies additional opportunities to expand their customer service
offerings.”
Brokerage and investment banking firm, Stifel, Nicolaus & Company
(“Stifel”), a wholly-owned subsidiary of Stifel Financial Corp.
(NYSE:SF), acted as financial advisor to OL&T. Stifel was recently
awarded International Financing Review’s 2013 US Mid-market
Equity House for its leadership among mid-market firms.
About Goldman Sachs Private Capital Investing
Private Capital Investing (“PCI”) is part of Goldman Sachs’ Investing
and Lending segment. PCI focuses on making equity investments in middle
market companies with typical investments ranging from $20 million-$150
million. Contact: pci@gs.com
About OL&T
Odyssey
Logistics & Technology Corporation (“OL&T”) is a global lead
logistics provider offering a broad array of services to support the
shipment of cargoes, estimated at over $60B, moving both domestically
and internationally to over 100 ports around the world. With operations
in North America, Europe and the Far East, OL&T operates in all modes of
transport with TL/LTL trucking, containership, rail, air, and the more
complex areas of bulk transport including bulk truck, ISO Tank, railcar
and tanker, as well as food-grade product lines. OL&T leverages four
main components to drive process improvements and savings for clients:
supply chain network evaluation and design; a patented, web-based
information technology infrastructure; proven operational processes;
and, volume aggregation that provide economies of scale for greater
efficiencies. In addition to fully-managed logistics services, OL&T also
offers individual 3PL services that include truck brokerage, intermodal
transportation, customs brokerage, freight forwarding, facilities
management, rail fleet management, sample and small order distribution
and more.
The Odyssey Global Logistics PlatformSM features a
transportation management system that supports the safe, reliable and
efficient delivery of client products throughout the world. WIN (Web
Integrated Network) offers a scalable technology solution with an
accelerated deployment and faster time to value.
For more information, please visit www.odysseylogistics.com
and www.winthruolt.com.
Copyright Business Wire 2014