08.04.2020 - 15:00 UTC
Modern Logistics (WD, Sao Paulo Guarulhos) has secured investment from an affiliate of H.I.G. Capital, a Miami-based global private equity and alternative assets investment firm. The terms and size of the investment were not disclosed but, a statement said, it was executed via convertible debt thereby giving the affiliate the right to convert the debt into an equity holding at some point in the future.
Modern Logistics is a Brazilian integrator which was founded by former JetBlue Airways vice president and co-founder of Azul Linhas Aéreas Brasileiras, Gerald Lee. It is backed by DXA Investments, an independent asset management firm based in Rio de Janeiro, Brazil.
"This transaction confirms our commitment to the region. We are very excited to work alongside Gerald Lee and DXA Investments in taking Modern Logistics to the next level," Fernando Marques Oliveira, Managing Director and Head of H.I.G. Brazil/ Latin America, commented.
Including this convertible debt issuance, Modern Logistics has now raised USD65 million in funding from H.I.G. and other investors. It expects to raise up to...
12.02.2019 - 09:13 UTC
Modern Logistics (WD, Sao Paulo Guarulhos) is looking to raise up to USD200 million fresh capital as it looks to grow its Brazilian market presence.
In a press release, the carrier's chief executive Gerald Lee said the logistics specialist enlisted the help of investment bank Evercore Inc. during autumn 2018 to search for new investors.
The funds would be used to expand the firm's fleet beyond the current two B737-300(F)s and two B737-400(F)s and to build additional distribution centres, which in turn will enable it to tap new customers.
Based in Jundiaí, in Brazil's São Paulo state, Modern Logistics provides storage management, distribution, and air-and-land transportation services to Brazilian businesses operating in sectors such as agribusiness, cosmetics, pharmaceutical, and smartphone manufacturing.
Private-equity firm DXA Investments is Modern Logistics' largest investor and has backed it since its launch in 2014, initially with a USD30 million equity investment, and then with another USD30 million sourced from a co-investment pool. Other investors in ML include Lee, John Owen (previously the CFO at JetBlue Airways...
19.04.2018 - 19:16 UTC
Modern Logistics (WD, Sao Paulo Guarulhos) is set to acquire its maiden B737-300(F)s with PP-YBD (msn 24463) already having been acquired and currently being prepared for delivery to the Brazilian logistics specialist in Budapest and a second aircraft, a 29-year-old aircraft, N421AU, that recently was converted from Quick Change (QC) to a dedicated freighter by Coopesa in Costa Rica and has been leased from Automatic Leasing.
Modern Logistics operates two B737-400(F)s on scheduled and ad-hoc charter cargo flights throughout Brazil. Its scheduled network consists of Manaus, Brasilia, and Sao Paulo Viracopos. To bolster its regional hubs, it is also planning to add ATR72 freighters at some point in the future.
10.03.2018 - 13:17 UTC
Five as of yet unidentified men stole USD5 million in cash from the Sao Paulo Viracopos airport tarmac on March 4. The money was due to be flown via Dakar Blaise Diagne Int'l to Frankfurt Int'l on board a Lufthansa Cargo (LH, Frankfurt Int'l) freighter, Air Cargo News has reported.
The robbery happened at around 2200LT (0100Z) as the cargo was being prepared for loading on board a MD-11(F) freighter.
The gang has reportedly entered the airport premises in a pick-up truck mimicking the security company's vehicles. The robbery, during which the security agents were reportedly threatened with weapons, took only about six minutes.
According to the ch-aviation capacity module, Lufthansa Cargo operates 7 weekly departures out of Campinas Viracopos, a major cargo hub serving the São Paulo state. The German freight specialist operates services to Frankfurt via Montevideo, Buenos Aires Ezeiza, Natal Aluizio Alves, and Dakar Blaise Diagne Int'l, as well as to Curitiba Int'l. Other cargo airlines present at the airport include Atlas Air,...
