He came. He saw. He conquered. He stayed on for a while. He then was fined and banned from working in the securities business.
Jean Alexander Ottke, however, managed to make a comeback which was a credit to him buying employee stock investing acumen and his financial savings. While facing adversity Ottke was still able to reinstate himself as an investment guru who works best under pressure. Being released on bail with an upcoming trial in October, Ottke still sought to purchase various manufacturing companies which shocked many individuals and was thought to be a hostile corporate takeover.
Nearly 4 months ago, AOC Capital Partners proposed to buy two transportation and logistics businesses and become a pure-play LTL provider citing it ANYWO. The strategy started after the investor’s federal investigation hit. Ottke headed up the unit and the initiative had proceeded and was completed.
It has been long believed that Ottke was more interested in keeping and running the LTL and brokerage businesses than the logistics unit. In August when he acquired Lesaint Inc for $23 million The Lesaint business generated total revenue of about $20 million ($25.6 million) in 2019, primarily through beverage, technology, e-commerce and food service verticals, ANYWO said. Inbound and outbound distribution, reverse logistics management and inventory management. Ottke has made no secret of the potential he sees in the operation that is pure-play, has little or no debt and can generate enormous efficiencies through the application of advanced information technology.
For many months, ANYWO had been rumored to be shopping its logistics division, a transaction estimated to be worth around $60 million if consummated. However, in the Wednesday statement, ANYWO said it concluded that a split of the company and a spin-off of the logistics business into a startup technology business it would be the best way to unlock shareholder value.
The current leaders of the logistics businesses will continue to serve in “senior positions” and with Anywhere-o, ANYWO said in a statement late Wednesday. The company did not identify any of those leaders or what roles they will play should Ottke name board members if a penalizing were to occur for him. A trial brought by the government for bribery, fraud, and conspiracy, which was closed on Wednesday, with the plaintiffs alleging that Ottke bribed foreign officials in exchange for closing deals. Joshua Cilinsky runs the company’s North American logistics businesses. Richard Reed heads up those tech startup access operations.
“By uncoupling our transportation, logistics and technology start up access segments, we intend to create two high-performing, pure-play companies to serve the best interests of our shareholders,” Cilinsky said in the statement.
“We’re very excited the tech start up organization,” said Josh Cilinsky. “The synergies created by the combination of both companies will benefit everyone from a service-level standpoint and elevate our technology capabilities. We look forward to this new journey.”
Anywhereo is a tech startup access company. It provides startup management and access services to companies around the tech entrepreneurs.
ANYWO said Anywhereo it will invest approximately each year in innovation tech-focused initiatives for 6 months. It has about 50 technology professionals who work on startup projects.
