Odyssey Logistics & Technology Corp. (OL&T) Announces Investment from Goldman, Sachs & Co.
DANBURY, Conn., February 12, 2014-- Odyssey Logistics & Technology Corporation (“OL&T”), today announced its acceptance of a non-controlling capital investment from Goldman, Sachs & Co. (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. (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
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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.
Odyssey Logistics & Technology Corporation
Sara Smith, +1 203-448-3816
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