On Time Delivery, a Flix Company, Acquired by Associated Couriers
Logisyn Advisors was proud to represent On Time Delivery (OTD), a subsidiary of Greyhound Lines and owned by Flix, as the exclusive strategic sell-side advisor in their acquisition by Associated Couriers (AC), a subsidiary of LIFE COURIERS, funded by Auctus Capital Partners.
Flix was looking to find a new synergistic partner that would allow On Time Delivery to continue providing its excellent service while keeping Flix and its subsidiaries focused on their primary service of passenger transportation. The acquisition by Associated Couriers creates a thriving environment for both companies through service offerings, expanded footprint and client base, and strong, tenured management.
“Our initial conversations were with Flix - the Parent Company out of Munich, Germany. The Flix team wanted to know what their options could be if they were to separate from OTD. We discussed the Art of the Possible with them and what the future potential could be for OTD. Once we were introduced to the OTD Team we knew there would be an excellent fit with the RIGHT Strategic buyer. Our outcome was a True Win / Win. OTD has found a new home that will allow them to expand and grow, Associated Couriers has the infrastructure and team that they needed in the MN market” - Ron Lentz, Managing Partner at Logisyn Advisors
For over 30 years, On Time Delivery has served the Minneapolis / St. Paul, MN market, establishing itself as a trusted provider of specialty courier services. Its diversified capabilities encompass on-demand, scheduled, and routed deliveries of time and temperature-sensitive items – including specimens and HazMat – through a diverse fleet of vehicles. OTD has achieved consistently strong growth, with both revenue and adjusted EBIT rising in each of the past 5 years. Combining this with their world-class client base and new customer wins, OTD is an attractive acquisition for Associated Couriers.
Based in St. Louis, MO, Associated Couriers boasts more than 45 years of quality experience and service offerings, specializing inmedical, radiopharmaceutical, and life science logistics solutions. This expertise has named AC as a leader in Healthcare Logistics, delivering a safety-focused and client-first approach across all offerings. This synergy of services, in addition to OTD’s quality management team, also creates an optimal solution to absorb another one of AC’s previous Minneapolis acquisitions in order to continue providing top-notch service to the Midwest.
"When looking for sell-side support, a number of industry participants referred us to Ron Lentz at Logisyn.. The Logisyn team was invaluable to the process and very hands-on in walking both our team and the OTD team through the potential avenues for a divestment, while handling the buyer mapping and due diligence with clear expertise and knowledge of the industry players. Logisyn never gave up working to find the right buyer, and both Flix and OTD are pleased with the outcome. Associated Couriers will be a strong partner for OTD to keep building with their aligned company values and goals. We are excited for them to start this new chapter.” - Lothar Krauth, VP Corporate Development at Flix
“OTD is a great addition for Associated Couriers and LIFE COURIERS overall. OTD complements Associated Couriers’ geographic footprint and driver network. There is high cross-selling potential, as OTD has a strong list of customers that AC is currently not serving, and vice-versa. Moreover, synergies in HR, IT and accounting can be leveraged to increase profitability. Thank you to the Logisyn team for the professional process management.” - Leon Thiessen, Manager M&A / Corporate Development at LIFE COURIERS