Brazil’s Modern Logistics seeks $200m in new investment

Modern Logistics, a freighter-operating Brazilian “integrated logistics” company, is looking for $200m in investments so it can expand. The company, which has four ageing 737 freighters, hired Evercore investment bank last year to find new investors to support its plan to buy more aircraft and build new distribution centres.

Based in  São Paulo state, the company offers storage, air and land transport and distribution. It has a good pedigree: chief executive Gerald Lee (pictured) helped found Azul and was a vice president at JetBlue. He has also been an undercover detective.

Modern is currently backed by private equity firm DXA Investments, which has put in $50m. Modern claims to have some 100 customers, including Harley-Davidson  and medical device maker Boston Scientic Corp.