OTS Logistics Group (OTS), which was founded by expatriate
New Zealand businessman and philanthropist Owen Glenn, has
been sold to a London-based private equity group, Man Capital
LLP, for an undisclosed sum.
Glenn said in a statement he was confident Los Angeles-based
OTS would continue to grow under Man Capital's ownership.
OTS provides non-vessel operating common carrier services and
serves the freight forwarding industry through different
brands worldwide including Vanguard Logistics, AFS, Brennan,
Conterm, DCL, Ocean Express and Export Freight Services.
The group, which reported gross sales of more than US$700
million ($886m) in 2010, was created through a series of
acquisitions.
Direct Container Line, founded by Owen Glenn in 1978 merged
with Brennan International and Conterm Consolidation Services
in 1998.
The group was renamed OTS Logistics in 2001 and has continued
its expansion principally in Asia and Europe.
Man Capital was established in 2010 with the focus of
providing capital and strategic support to companies with
attractive growth perspectives.
The company is backed Egyptian investment company, the
Mansour Group, which has operations in the Middle East,
Russia and Africa.
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