Odyssey Logistics & Technology increases revenues by 66%Analytiqa Feb 14, 2012 Back to press
ompany continues to invest in technology and operational infrastructure
Benefiting from solid organic growth as well as successfully integrating four recent acquisitions, Odyssey Logistics & Technology Corporation (OL&T) has reported that net revenues grew 66.0% in 2011. The Company also continued to add new employees across all its businesses.
Continued investment in the Company’s global technology platform and operational infrastructure, coupled with successful execution of its acquisition strategy, have driven significant top-line and bottom-line growth.
As a result, OL&T will continue to reinvest capital to further build out its transportation management and logistics service capabilities to all markets in North America, EMEA and Asia.
OL&T successfully integrated four acquisitions from April 2010 through January 2011. In April 2010, OL&T acquired International Forwarders, Inc. (IFI), an export freight forwarder and customs house broker based in Charleston, S.C. The purchase added customs broker and duty drawback capabilities to OL&T's portfolio.
In December 2010, OL&T purchased Capital Transportation Solutions (CTS), a non-asset-based third-party logistics provider specialising in less than truckload (LTL) transportation spend management. Purchasing CTS diversified OL&T into the retail, wholesale and manufacturing sectors and assists OL&T in providing services to smaller process and chemical customers.
In January 2011, OL&T acquired two companies. The first was Optimodal, Inc., an intermodal company specialising in the multi-modal transportation of bulk liquids in ISO tanks and related services throughout North America. The purchase enabled OL&T to offer an extensive rail network of intermodal transportation services while lowering its clients' carbon footprints approximately 50.0% compared to over-the-road transportation services.
The second acquisition in January 2011 was Chemical Marketing Concepts (CMC), a global leader in the field of outsourced sample fulfilment and logistics services. The purchase of CMC expanded OL&T's portfolio into the rapid small order fulfilment and logistics sector. These services are now also deployed in China and will be offered throughout the Asian marketplace.
The Odyssey logistics network spans throughout North America into Europe and Asia serving all modes of transport with coverage in more than 150,000 transportation lanes and 220 ports worldwide. OL&T deploys a proprietary technology platform for its clients and suppliers facilitating collaborative activities that drive significant cost savings from the network while improving visibility of cargo movements and customer service.