SAO PAULO, Brazil, Sept. 30, 2014 (GLOBE NEWSWIRE) -- Modern Logistics S.A., the first Brazilian multimodal logistics company integrating air operations within its platform, has closed an initial private equity investment of up to R$75 million ($30 million). Modern expects to launch operations within two months, offering clients vertically-integrated logistics solutions including warehousing, pick and packing, and multimodal distribution via air and ground.
Modern Logistics is focused on offering tailor-made logistics solutions for industrial clients with warehousing and distribution needs for high-value goods such as electronics, pharmaceuticals, cosmetics and auto parts. Modern's innovative supply-chain platform will offer clients quality, speed and security with the best cost/benefit ratio in the market.
Modern will operate Boeing 737-400 freighter aircraft linked to logistics centers strategically-located in Brazil's major industrial centers. The number of logistics centers and aircraft will increase in accordance with client demand, projected to reach 40 aircraft and 15 logistics centers within five years.
Modern is managed by a group of executives with global aviation and logistics expertise and led by Gerald Blake Lee, who was one of the Founders of Azul Linhas Aéreas, Brazil's third largest airline. Gerald was previously Vice President at JetBlue Airways. As part of the investment, JetBlue Airways co-founder John Owen, an investor in Modern, has joined Modern's Board of Directors.
The company's unique service offering seeks to optimize clients' supply-chain through an efficient, programmed flow of goods from warehousing to distribution which will reduce inventory time and increase product shelf-life, thereby reducing costs and improving sales for Modern's clients.
"We will offer a unique service in Brazil. Our integrated one-stop shop operation will reduce direct and indirect costs. Our logistics solutions will add quality and security to the supply-chain and our air operation will significantly reduce delivery times, allowing for just-in-time delivery. This combination will increase security for shipments minimizing product loss and handling costs," said Marlon Ramirez, co-founder of Modern Logistics.
Modern secured capital through Rio de Janeiro-based DXA Investments ("DXA"). DXA will facilitate future rounds of financing through its broad relationships with Brazilian, North American and European investors.
"We see Brazil's infrastructure challenges as a market opportunity. We know that in order for the Brazilian economy to grow, we will need to overcome the infrastructure bottleneck. Modern's unique solution will help alleviate the infrastructure problems by offering a faster and more efficient solution that guarantees quality and security. The integrated platform will allow for clients to minimize existing inefficiencies with significant cost reduction," says Oscar Decotelli, partner at DXA Investments.
TAP Advisors is acting as financial advisor to Modern in connection with this transaction.
About Modern Logistics S.A.:
Modern Logistics is building the first Brazilian "end-to-end" logistics supply chain company to serve domestic, regional and international markets by integrating air and ground modes between strategically-located logistics centers. Modern Logistics' unique platform will help companies doing business in Brazil to realize their market potential through customized cost-efficient solutions.
Modern plans logistic centers in Brazil's established industrial regions and growing markets, equipped with state-of-the-art facilities and fully integrated IT systems. The company is taking delivery of Boeing 737-400F aircraft that will provide cost efficient distribution on medium and long haul routes and connecting logistics centers on each end.
For more information, please email Info@modern.com.br, or call (+55-11) 4191-0485.