European Cargo Limited Announces Investment to Accelerate Growth


On February 22, 2022, European Cargo Limited (“ECL”) closed a significant minority equity investment by Priority 1 Logistics Holdings LLC, a newly-formed subsidiary of U.S.-based, Priority 1 Holdings LLC (“Priority 1”).  Proceeds of the investment will be used to eliminate third-party debt, convert EAL’s A340 fleet to full cargo freighters, acquire additional aircraft, complete heavy maintenance checks and for shareholder dividends.

Paul Stoddart, Chairman of ECL commented: “This is a major step forward in the growth of European Cargo. We have positioned our airline to provide our valued freight customers with a reliable air bridge to meet the increasing demand for air freight. The investment by Priority 1 into ECL will help us continue to build a sustainable, successful and profitable business following one of the most difficult periods in aviation history due to the Covid pandemic. This partnership with Priority 1 provides us with additional financial resources as well as deep commercial aviation expertise which will increase our capacity and ensure that we meet our rapidly accelerating customer demands.”

Douglas Brennan, Executive Chairman of Priority 1, commented: “Expanding Priority 1’s business into the cargo market represents a very exciting opportunity given the outsized demand for reliable air freighters due to strong trends in the marketplace, including the growing importance of e-commerce and reliable delivery of PPE to the world at large. Paul Stoddart and his skilled team at ECL have built enormous aviation capabilities and, together, we will help fuel the growth of ECL to build a powerful global cargo operator.”

Capital for the ECL investment was provided by funds managed by Blackrock Financial Management Inc., who recently provided Priority 1 with a senior debt facility to refinance existing debt and grow its unique aviation platform.

NatAlliance Securities, LLC acted as advisor to Priority 1 Logistics Holdings for both the senior debt capital raise and its investment in ECL.


Bosch commemorates 100 years of Bosch Car Service


Bosch Car service, the principal Bosch Workshop service brand in the Bosch Automotive Aftermarket portfolio, commemorates 100 years of its presence as the world’s leading multi-brand car service workshop. From establishing the first official Robert Bosch AG installation and Repair workshop based in Hamburg in the year 1921, Bosch Car Service presently has a footprint of more than 15,000 workshops across 150 countries.

Bosch Car Service network partners benefit from Bosch’s ever growing expertise in diagnostic technology, availability of high quality and genuine spare parts and technical training for its workshop technicians. A qualification system within the Bosch Service Excellence program, including regular audits and service quality assessments, ensures the high quality of Bosch Car Service workshop partners. Car drivers benefit from genuine Bosch parts, sound technical know-how and efficient services of the workshop personnel who are up to date with regular training courses offered by Bosch. As a leading global supplier of technology and services, Bosch is one of the most important drivers of innovation in the field of mobility, which also benefits the Bosch Car Service brand, its network partners, and their customers.

“Bosch Car Service (BCS) in India has been growing at a very strong pace clocking a high double digit growth in 2020 over the previous year,” says Anjan Kumar. R – Regional President, Bosch Automotive Aftermarket. “This is also the highest growth posted in the BCS network expansion across geographies, in the milestone marking 100 years of presence, despite prevailing COVID challenges. Our value proposition towards passenger car workshops, have been strengthened over the last many months. This has been a major attraction for many OEM workshops across the country to convert to a Bosch Car Service workshop especially the recent outlets in Mumbai, Chandigarh, Chennai and Ahmedabad. Now is the best time for independent workshops to join a 100 year old strong network with the expertise of running a global multi brand car service concept. We offer comprehensive services namely vehicle diagnosis, wide range of spare parts, technical service and support to car owners that are at par with leading OEMs across the country. Importantly, while achieving the 100 years milestone, we have also created futuristic digital ecosystem for multi-brand workshops – an ecosystem beyond compare.”

Bosch Car Service presently has close to 250 touchpoints across India including the company-owned company-operated Bosch Car Service with state-of-the-art facilities, established in Bengaluru in 2017. The CoCo workshop serves as a centre of competence and a lighthouse to test-try and market all the value propositions before launching the same at an all-India level.

Bosch currently offers value enhancement to its network, through diverse cooperation models with leading players such as 3M, ITW, Mahindra Insurance Brokers Limited, Assurant India, Gates Unitta India, and many more tie-ups in the offing. Alliances of such kind enable improved accessibility and affordability for managing the operations of the workshops.

100 years since opening the first Bosch repair workshop, Bosch Car Service brand is a leader in the independent workshop market as modern full-service provider. Bosch is commemorating this success story with an optimistic look at the future: the objective is to further expand its network count by targeting significant growth in India, coordinate with customers and workshop partners on the basis of digital solutions and smart use of data, and reinforce its position as a reliable and innovative mobility partner across the world, both today and in the future. By offering comprehensive vehicle repair solutions, service and a plethora of value propositions, Bosch Car Service is your workshop next door ‘For everything your car needs.’