OL&T Acquires IFI To Enhance Services

Odyssey Logistics & Technology (OL&T) has acquired International Forwarders, Inc (IFI), an export freight forwarder and customs house broker. The acquisition allows OL&T to enhance its customs broker and duty drawback capabilities and also expand its export forwarding business.

According to OL&T, it has provided freight-forwarding services to clients through its wholly owned affiliate, Odyssey International. This acquisition is being made by Odyssey International which will be expanding with a second location and additional services and customers through this acquisition.

The company said that it will continue to utilize the current international forwarders facility in Charleston. The 40 employees working for IFI will become a part of the OL&T enterprise immediately. All current IFI customers will continue to be served in Charleston for freight forwarding and import services.

In addition, Odyssey will continue to provide freight-forwarding services in its Connecticut location as well. The import services provided by other service companies may be transitioned to IFI as contracts or opportunities arise.

Robert Shellman, president and CEO of OL&T, said: “As we continue to increase our global customer base, establishing new operations in South Carolina offers OL&T a strategic location for wider market penetration. Further, we now have an additional site with unmatched customs house brokering and international freight-forwarding expertise in close proximity to a world-class port.”

Douglas Clark, president of Odyssey International, and senior vice president of global marine and international logistics services at OL&T, said: “OL&T acquired International Forwarders, Inc to add additional import-oriented services to our portfolio, improve our competitive cost structure and allow us to meet growing market demand for import/export logistics services for our clients.”