Odyssey Logistics & Technology Corporation Completes Acquisition of AFF Global Logistics
DANBURY, Conn.--(BUSINESS WIRE)--Dec 3, 2018--Odyssey Logistics & Technology Corporation (“Odyssey”), the global leader in complex supply-chain multimodal services and technology solutions, today announced that it has completed its acquisition of AFF Global Logistics (“AFF”) for $465 million.
Odyssey provides comprehensive global logistics and transportation services, including intermodal, trucking, bulk container shipping and transportation management services supported by multiple proprietary technology platforms. AFF is a recognized leader in U.S. domestic offshore services, APAC freight forwarding and comprehensive warehousing and distribution solutions.
“The acquisition of AFF is a significant achievement in the continued evolution of Odyssey,” said Bob Shellman, president and chief executive officer, Odyssey. “It creates tremendous and immediate value for Odyssey and its customers. Our combined market leverage supports a significant enterprise multiplier as we integrate our comprehensive solutions globally.”
To support the transaction, Odyssey’s Multimodal Global Solutions Division has been established to integrate Odyssey and AFF business units that offer complementary modes and services across common global markets. The new division will be led by Keith Hancock, who previously served as president and CEO of Odyssey’s Capital Transportation Solutions subsidiary.
“The collective business units formed under the Multi Global Solutions Division will integrate, leverage and cross-sell services to drive dynamic supply-chain solutions for our combined customers worldwide,” said Kevin Kelly, president and CEO, AFF Global Logistics. “This is a growth-oriented transaction that will result in a powerful enterprise with capabilities beyond that of many competitors, to the benefit of our customers and employees alike.”
Odyssey Logistics & Technology Corporation (Odyssey) is a global logistics solutions provider with a freight network exceeding $3B globally. Odyssey’s services include international transportation management, intermodal services, trucking services, and managed services and consulting. With operations in North America, Europe and Asia, Odyssey operates across all modes of transport with TL/LTL trucking, containership, rail, air, and bulk transport including bulk truck, ISO Tank, railcar and tanker, as well as food-grade product lines.
The Odyssey Global Logistics Platform℠ features transportation management systems 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.
About AFF Global Logistics
AFF ( www.affgl.com) is a global 3PL logistics group headquartered in Fife, Washington. AFF is recognized as a leading U.S. domestic offshore provider (Alaska/Hawaii/Puerto Rico), offering additional services to clients worldwide who require ground, rail and air transportation, ocean freight forwarding of dry and temperature-controlled products, project logistics, and warehouse and distribution services to support their customer’s global supply-chain requirements.
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KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT WASHINGTON
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SOURCE: Odyssey Logistics & Technology Corporation
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PUB: 12/03/2018 09:30 AM/DISC: 12/03/2018 09:30 AM