Done deals: January 21, 2021
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BBAM acquires freighters
BBAM Limited Partnership, an aircraft leasing outfit, is expanding its 737-800 Boeing Converted Freighter fleet with six planes and options on six more. The agreement brings BBAM’s 737-800BCF orders and commitments to 15. Based on the Next-Generation 737, the 737-800BCF is primarily used to carry express cargo on domestic or short-haul routes. It can carry up to 23.9 tonnes (52,800 pounds) and fly up to 2,025 nautical miles (3,750 kilometers). Since entering service in 2018, customers have ordered more than 150 737-800BCFs.
Interroll buys MITmacher
Interroll has acquired MITmacher GmbH in Linz, Austria. The acquisition will create Interroll’s Global Center of Excellence (CoE) for software and electronics in the future. Besides the respective assets, Interroll takes over a highly qualified team of engineers and experts, which has a strong track record in software development, electronics, mechatronics, and engineering with focus on material handling as well the Industrial Internet of Things (IIoT). Andreas Eglseer, who founded MITmacher in 2015, will be appointed managing director of the CoE. The company will be renamed Interroll Software & Electronics GmbH and will continue to operate from premises in Linz.
C.H. Robinson selling branded veg
Robinson Fresh, a division of global logistics company C.H. Robinson, is now offering fresh produce under its own name. The company has provided produce across the world since 1905. Working with growers in 35 countries and serving 50 of the 75 largest North American food retailers as customers, the company is one of the largest produce providers in the world. This recent change includes an update to the company’s logo as well as new packaging for fruits and vegetables across the produce department that will now reflect the Robinson Fresh brand.
RoadOne buys DDI Transportation
RoadOne IntermodaLogistics has bought DDI Transportation, a 38-year-old drayage and trucking business based in Ashland, Virginia. DDI provides rail and port drayage, full truckload and logistics services, from 13 locations on the U.S. East Coast: four in Florida, one in Maryland, one in North Carolina, one in New Jersey, four in Pennsylvania and two in Virginia. It will be known as DDI IntermodaLogistics, and will continue to be managed by Fred Huennekens and Dan Bugas.
Realterm & J.P. Morgan Asset Management
Realterm and J.P. Morgan Asset Management have acquired 1.75 million-square-feet of logistics properties located in 28 U.S. industrial markets, including Chicago, Atlanta, Dallas, New Jersey, New York, and Philadelphia, among others. Each of the 54 assets in the portfolio benefit from access to key interstate highways, airports, and seaports. The portfolio was acquired by Realterm Logistics Income Fund (RLIF) in a 50/50 JV with institutional investors advised by J.P. Morgan Asset Management, and will be managed by Realterm.
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