OTS Logistics Group acquires NVOCC

OTS LOGISTICS Group has announced it has acquired the UK-based NVOCC (Non-Vessel Operating Common Carrier) Ocean Express Limited, simultaneously acquiring the firm's interests in subsidiaries worldwide.

The acquisition will substantially increase volumes for OTS LG in the UK, Europe and USA to Caribbean, Central and South America trade routes where Ocean Express is particularly strong, moving 25,000 TEU a year in those shipping lanes.

"We continue to deliver on our plans to rapidly expand our organisation through both acquisition and organic growth," said OTS chairman Owen Glenn. "This is our third major UK/Europe-based acquisition in as many years."

Mr Glenn said "the addition of the Ocean Express to our existing portfolio of Box, Confreight and Vanguard in this region will allow us to service different market segments with remarkably varied offerings".

Ocean Express was founded in 1987 and has grown from four staff to 150.