Logistics firm buyout centered on California warehouse
An Ohio logistics company with an eye toward expansion in the California market said Monday it has purchased third-party distributor Olson Co. for an undisclosed sum.
Columbus-based ODW Logistics said a key part of the deal was a Chino warehouse owned by Olson, which the firm expects to boost ODW's revenues to $65 million.
“Some of our customers said they’d love to have us out west,” ODW President John Ness told the Columbus Dispatch. “We’ve got $20 million of new business in the pipeline in the next three years in California.”
ODW also picks up Olson's 275,000-square-foot headquarters/warehouse facility in Waukesha, Wis., a 340,000-square-foot warehouse in Melrose Park, Ill. and a 100,000-square-foot warehouse in Indianapolis, Ind.
ODW also picks up Olson's headquarters facility in Waukesha, Wis., and additional warehouse space in Melrose Park and Indianapolis, Ind.
The 35-year-old ODW employees about 600 workers and will absorb most of Olson's 110 employees. ODW also has an Internet-fulfillment operation, a trucking company and a contract-services division with operations in Ohio, Illinois, Michigan and Texas.