Odyssey Logistics & Technology Corp acquires Capital Transportation Solutions
Jul 12, 2011 3:16 PM
Odyssey Logistics & Technology Corporation (OL&T) 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 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 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 Robert H Shellman, OL&T president and chief executive officer. “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,” he said.
“Becoming a part of OL&T provides us both expansion opportunities into new areas,” said John Pas, CEO and founder of CTS. “OL&T has a large LTL portfolio and synergies exist that will offer both cost savings and efficient methods of freight management.”
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.
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