Odyssey Logistics & Technology Corp., which provides comprehensive multimode service and technology products across a diverse customer base, is acquiring AFF Global Logistics for $465 million in a combination of cash and equity.
Headquartered in Fife, Washington, AFF is a third-party logistics provider and freight forwarder operating in global markets. One of its specialties is providing door-to-door domestic forwarding for offshore U.S. markets such as Alaska, Hawaii and Puerto Rico.
The acquisition is the largest in Danbury-based Odyssey Logistic’s history, adding more than 35 global locations and 600 employees, which will raise Odyssey’s workforce to more than 2,400.
“AFF’s load consolidation expertise, U.S. offshore markets coverage, warehouse network and Asia Pacific import business will markedly enhance Odyssey’s strong truck, rail, marine and facility networks,” said Odyssey Logistics President and CEO Bob Shellman. “This transaction reflects Odyssey’s commitment to continuous growth and expansion of services, which we expect will be complementary and provide a broader range of services to both Odyssey and AFF global customers.”
The transaction is expected to close by year-end subject to satisfaction of customary closing conditions.