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H.I.G. Capital Provides Financing to Modern Logistics in Brazil

H.I.G. Capital, LLC, a leading global private equity investment firm with $37 billion of equity capital under management, announced that one of its affiliates has invested, through convertible debt, into Modern Logistics, a leading Brazilian one-stop-shop full service logistics firm. Terms were not disclosed. Modern Logistics, the only firm of its kind in Brazil to have its own fully integrated air cargo operation dedicated to long distance, time-sensitive, and warehousing capabilities, is backed by DXA Investments, a private equity and venture capital investment firm. Including this convertible debt issuance, Modern has raised U$65 million in funding from H.I.G. and other investors. Modern expects to raise up to U$150 million, to be used for working capital needs for its expansion.