Investee Company – ETR Group (Sweden)
Investee Company Business Type – Provides temperature-controlled air cargo transportation services.
Type of Financing – Second Round
Equity Providers – Banc of America Equity Partners Europe
Equity Leader (Individual) – William Obenshain
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – SEK116 million
Total Deal Value – SEK116 million
Other Advisors – Citigate Dewe Rogerson
Comments – Lagga-based ETR Group, parent company of the Envirotainer divisions, which provides temperature-controlled air cargo transportation and services world-wide, has raised SEK116 million in second round funding.
The deal was financed by Banc of America Equity Partners Europe, the London-based private equity division of Bank of America. This investment, their second in ETR Group, brings the total invested in the company to SEK241 million. ETR Group intends to use the capital to accelerate the rapid growth of Envirotainer and expand its services to include the safe airborne transportation of perishable food and medicine.
Founded in 1986, ETR Group’s Envirotainer subsidiaries provide a complete solution for the air transportation of temperature-sensitive cargo including supply of containers, leasing services, ULD-logistics, information and advice from their 15 branches worldwide. The Group’s clients include American Airlines Cargo, British Airways World Cargo, Nippon Express and Singapore Airlines Cargo. The group also has global leasing contracts with a number of major world airlines, in a growing market worth over SEK200 billion.