MTB Direct Logo

MTB Direct
March 2021

MTB Direct is a leading online marketplace for mountain bike parts, riding apparel and accessories.

The business focuses on providing a high-quality customer experience to mountain bike riders from beginner to expert, with its extensive range of products appealing to customers who appreciate the convenience and flexibility of online shopping.

MTB Direct has achieved strong sales growth over recent years and is well positioned to further benefit from the increasing popularity of cycling, in particular mountain biking, alongside the continued shift of consumers to the online channel.

Odyssey has provided growth capital to the business and acquired a significant equity stake in MTB Direct, partnering with the company’s founders.

July 2019

FRANKiE4 is a leading and award winning women’s fashion footwear label with a difference. The brands unique designs and patented support technologies are targeted at enhancing customer’s foot, lower limb and overall health.

FRANKiE4 is growing strongly across all of its distribution channels including online, pop up & concept stores, and its expanding network of retail and allied health stockists across Australia.

Odyssey acquired a strategic stake in FRANKiE4, partnering with the founders and management.

Delta Agribusiness
May 2019

Delta Agribusiness (Delta Ag) is one of Australia’s fastest growing rural service companies.  The business has a network of branches throughout NSW, VIC and Southern Queensland that provide agronomy advice to farmers, sell farm inputs such as fertilisers, crop protection products, seed and general merchandise, and provide livestock, grain advisory and marketing services.

Delta Ag is recognized as an innovative and dynamic market leader.  The company is growing strongly with increasing demand for agricultural products from increasing populations across Australia and broader Asia.  Delta Ag has also established Goanna Ag, an Ag Tech leader in distributed sensor networks incorporating IoT technology.

Odyssey acquired a strategic stake in Delta Ag, partnering with existing employee shareholders.

Sushi Sushi
May 2019

Sushi Sushi supplies sushi and other Japanese-inspired healthy convenience foods through a network of company-owned stores, franchised stores and commercial sales channels throughout Australia.

Increasing consumer preference for healthy and convenient meals is driving strong demand for sushi and other healthy food options.
Sushi Sushi is vertically-integrated, with a commitment to innovation, quality food and a superior customer experience.

Minesite Technologies
June 2018

Minesite Technologies (MST) is a leading provider of unified communications products, digital infrastructure, real-time tracking and asset management solutions, predominantly for the mining and tunnelling sectors.  MST has a high-quality, global installed base and a strong reputation for product quality and customer service.

Miners are focussed on driving continuous productivity and safety improvements across their portfolio of operating mines.  MST’s products allow customers to capture and analyse operational data in real-time during the production phase of the mine life cycle.

Adventure Operations logo

Adventure Operations
January 2018

Adventure Operations is a market leading outdoor business comprising a portfolio of trusted and iconic brands with a rich heritage extending over 30 years:

  • Oztrail: a high-quality, family focused camping and outdoor products brand supplying the regions widest range of tents, gazebos, outdoor furniture and sleeping solutions;
  • Companion: a leading supplier of outdoor products that allows outdoor enthusiasts to get off the grid with home-like comforts through its range of gas appliances, fridges, heating, cooling and power systems;
  • Campfire: a pioneer in the camp cooking market providing a range of premium quality cast iron cookware and tableware that inspires a lifetime of cooking in the outdoors;
  • Jamec PEM: a globally recognised Australian industrial brand supplying tyre inflation and air equipment tools across North America, Europe, the UK and South Africa; and
  • Trade Flame: a leading supplier of heating tools catering to a wide customer base from the professional trade specialist to the general purpose DIY user.

The global outdoor and camping equipment market continues to grow strongly due to increasing consumer demand for recreation and experiential activities both domestically and internationally which is driving the expansion of the brand’s global footprint. Adventure Operations is developing innovative products for day-use, recreational and outdoor leisure activities alongside traditional camping with Odyssey assisting through investment in procurement and the business’ distribution capability.


Odyssey’s partners have recently driven the realisation of the following successful investments


TR Group is New Zealand’s largest heavy vehicle lease and rental company.

The business serves over 1,300 customers with a fleet of more than 6,500 vehicles from 14 branches throughout NZ and Australia.  TR Group’s success has been driven by their focus on providing the best possible vehicle for the work required and providing ongoing support to optimise vehicle and fleet performance.

The shareholding in TR Group was sold to a consortium of Direct Capital and NZ Super in July 2020.

2012 – 2018

RSEA is a leading vertically integrated provider of industrial safety, road safety and hire equipment.

The business operates a network of trade stores, online sales, and direct sales for corporate customers.

RSEA was sold to Intermediate Capital Group in May 2018.

2016 – 2018

Macpac is an iconic New Zealand brand with a heritage extending back to 1973.

The business retails high-performance outdoor products and apparel, through a growing online channel and a store network extending throughout New Zealand and Australia.  Macpac also sells to commercial customers and export distributors in Europe, Japan and Amazon in the USA.

Macpac was acquired by Super Retail Group Limited (SUL.AX) in March 2018. The transaction received the Chairman’s Award for the Best Retail Growth Company exit, at the 2018 Australian Growth Company Awards.

2008 – 2016

HE-Parts is the world’s largest supplier of non-OEM aftermarket wear parts to equipment used in the mining sector, with operations in Australia, the USA, Canada, Chile and Peru.

The business has developed a proprietary range of engineered components, that are tailored for specific customers and operating conditions and sourced in-house and from a network of high-quality suppliers.

H-E Parts was acquired by Hitachi Construction in December 2016.

2007 – 2015

Taura Natural Ingredients is a manufacturer of value-added fruit pieces and pastes to a global customers in the fruit snacks, cereals and nutritional bar segments.

The business has unique IP, producing from plants in Belgium and New Zealand and with a growing presence in the USA.

Taura was acquired by Frutarom (FRUT.TLV), a listed European flavours and ingredients company, in June 2015.

2014 – 2021

Cater Care is a national provider of contract catering to remote mining and resources sites, aged care facilities, airports, universities, schools and corporate facilities.

The business has a differentiated approach of tailoring a solution for every customer and ‘cooking fresh’ with chefs on-site.

The shareholding in Cater Care was recapitalised and sold to a consortium of private investors and management in October 2020.


Previous investments involving Odyssey’s partners include the following

Sea Swift
2012 – 2019

Market leader in marine freight and logistics in Far North Queensland and the Northern Territory.

APB Modular
2007 – 2012

Integrated, national provider of modular building solutions to resources, education and infrastructure customers

Intercast & Forge
2005 – 2012

Major independent manufacturer of ferrous castings for rail fastening systems and critical automotive components

2005 – 2008

Australian market leader in minerals testing for mining companies, with deep expertise in geochemical testing and metallurgical analysis

Mulford International
2006 – 2010

Leading distributor of plastic sheeting and engineering plastics, throughout Australia, New Zealand and Asia

Australian Temporary Fencing
2004 – 2006

Market-leading hirer of temporary fencing and height safety solutions to the construction, infrastructure and events sectors

Minelab Electronics
2002 – 2008

World leader in metal detector technologies for humanitarian demining, consumer and military applications

Nudie Foods
2004 – 2007

Pioneer in the development of a ‘super premium’ fresh juice category in Australian food service and grocery channels

Video Ezy Australasia
2002 – 2005

Australia’s largest franchise operator for DVD rental and retail

Dexion Asia Pacific
2003 – 2005

Leading brand in industrial pallet-racking, commercial shelving and automated warehouse technology

Retail Apparel Group
2004 – 2011

Smart-casual menswear retailer, operating under ‘Tarocash’, ‘yD’ and ‘Connor’ brands

Lorna Jane logo

Lorna Jane
2010 – 2020

Lorna Jane is a leading women’s active wear brand with global operations