RM2 International secures $150 Million strategic partnership with Orion Infrastructure Capital
M2 has developed and deployed its proprietary, trackable composite pallet in a multi-year contracted leasing model with customers across North America.
Image courtesy RM2
RM2 International Inc., a pallet pooling and logistics company, has entered a strategic partnership with Orion Infrastructure Capital to expand RM2’s pallet pooling fleet in support of existing customer demand.
The investment was executed from OIC’s Credit Opportunities Fund III, which will provide up to $150 million to further expand RM2’s U.S. pallet pooling operations.
RM2 has developed and deployed its proprietary, trackable composite pallet in a multi-year contracted leasing model with customers across North America. The RM2 composite pallet offers a cost-competitive alternative to traditional pallets, while also enhancing supply chain efficiencies as well as improving the environmental and safety profile of customers' logistics operations. The data provided through RM2’s BLOCKPal ELIoT Internet of Things-connected tracker allows customers to identify in real-time wayward shipments, temperature anomalies and shocks, making for safer, timely and more efficient deliveries. RM2’s customers and end users include major food and beverage companies as well as big box retailers that value RM2’s hygienic, durable and trackable product offering and their hands-on customer service.
“We are delighted to be announcing our strategic partnership with OIC and excited to be working with the team on the next phases of expansion for our Company,” said Kevin Mazula, CEO of RM2. “The capital provided by OIC will spearhead the continued rapid growth at RM2, supporting our growing and loyal customer base, providing RM2’s clean, robust, technology driven solution for a fundamental element in the supply chain.”
Ethan Shoemaker, investment partner and head of infra credit at OIC, said, “We are thrilled to partner with RM2, an innovator in the logistics industry and a trusted supplier for their customers. This partnership supports OIC’s goal to champion innovative infrastructure through strategic investment partnerships. On behalf of the team, I would like to thank RM2 for choosing to partner with OIC.”
PMB Capital Limited served as financial adviser to RM2. Wuersch & Gering LLP acted as principal legal adviser to RM2 and Vinson & Elkins LLP acted as principal legal adviser to OIC.
Source: RM2
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