Lynxs operates air cargo facilities in US airports, including the Austin-Bergstrom International, Houston's George H.W. Bush Intercontinental, O'Hare Airport in Chicago and Ted Stevens International Airport in Anchorage. Lynxs develops its CargoPort facilities with local partners. "Our recapitalization drive signals our intent to go to the next stage of expansion," Ray Brimble, the managing partner of Lynxs Group, said in a statement.
Brimble tells GlobeSt.com that he wants to raise about $100 million in debt and equity. He and CB Richard Ellis executives are seeking to tap institutional investors or real estate investors for the capital.
Expansion would be in Europe and Latin America, says Brimble, who spoke by phone from London's Heathrow Airport. He was overseas checking out expansion possibilities and investors. He declined to be more specific about expansion sites.
Bring an investor on board would change the way Lynxs has operated. Previously, Lynxs has partnered with local investors when it sets up CargoPorts. An investor would enable Lynxs to consolidate into one capital partner so it wouldn't have to find a new partner in each new location, Brimble says.
The company wants to get part of the projected 5.2% annual growth in air freight volume through 2005, according to MergeGlobal, a consulting firm based in Alexandria, VA. The increase comes from increasing globalization of business and just-in-time delivery.
Mike Caprile, senior vice president of investment properties of the CB Richard Ellis office in Chicago, and Glynn Mireles, vice president of the Houston office, will lead the fund-raising effort. CB Richard Ellis is a commercial real estate services company based in Los Angeles.
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