Odyssey Logistics & Technology Corporation (Odyssey), a global logistics provider, has announced that an affiliate of The Jordan Company has signed a definitive agreement to become the new majority shareholder in Odyssey, the company said.
The transaction is expected to close in the third quarter, subject to customary closing conditions, and will result in the buyout of all shares currently held by the venture capital firms who initially invested to help launch the company. There will be no change in Odyssey´s management, core strategy or mission. Terms of the transaction were not disclosed.
Odyssey develops targeted, comprehensive logistics services that address the unique challenges, systems, products and visions of companies worldwide. Working with Odyssey gives clients access to Odyssey´s global logistics network and technology offerings that support all modes of transportation. Clients can choose to have Odyssey support all or a portion of their logistics needs.
J.P. Morgan acted as exclusive financial advisor to Odyssey in the transaction.
The Jordan Company, founded in 1982, is a middle-market private equity firm that manages funds with original capital commitments in excess of USD 8 billion with a 35-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. Headquartered in New York, TJC also has offices in Chicago.
Odyssey Logistics & Technology Corporation (Odyssey) is a global logistics solutions provider with freight network of over USD 2B. Odyssey´s services include intermodal services, trucking services, managed services, international transportation management and consulting. With operations in North America, Europe and Asia, Odyssey operates in 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 PlatformSM features a transportation management system that supports the safe, reliable and efficient delivery of client products throughout the world.