Odyssey Logistics & Technology Corp. on Tuesday, June 28, announced its recent acquisition of Capital Transportation Solutions, a nonasset-based third-party logistics provider specializing in less-than-truckload transportation spend management. OL&T says CTS provides truck brokerage services to exporters, importers and domestic shippers and uses proprietary strategies and “On Demand” software to lower their costs and increase their productivity.
OL&T says the purchase of CTS, terms of which were not discloses, provides diversification into the retail, wholesale and manufacturing sectors and offers OL&T 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,” says Robert Shellman, president and chief executive officer of Danbury, Conn.-based OL&T. “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.”
CTS will maintain operations at its facility in Kennesaw, Ga. “Becoming a part of OL&T provides us both expansion opportunities into new areas,” said John Pas, CTS founder and CEO. “OL&T has a large LTL portfolio, and synergies exist that will offer both cost savings and efficient methods of freight management.”