Bax Global (Acquired by Deutsche Bahn 2005)

Note: This company is no longer trading as a separate enterprise.

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2006

Bax Global was acquired by Deutsche Bahn in 2005 from the Brinks Company which in addition to its freight forwarding and express subsidiary includes home security and 'cash logistics' (the delivery and collection of cash to banks through a fleet of armoured vehicles). 

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History

The company was established as Burlington Northern Air Freight, Inc in 1972, a subsidiary of the railroad operator, Burlington North. In 1980 it developed Burlington Air Express, offering small package overnight express services throughout North America. In the largest acquisition in air freight history, Burlington was acquired by The Pittston Company (now Brinks) in 1982. This was followed in 1985 by the addition of its own fleet of freighters and subsequently a move to a hub at Toledo, Ohio. In 1993 the company launched a sea freight operation.

Until 1997 the company was known as Burlington Air Express before being re-branded as Bax Global as it sought to position itself in the global logistics industry.

Bax Global now has a worldwide network of around 500 offices in 133 countries.

The disposal of Bax Global allowed Brinks to focus on the more lucrative parts of its business. There were no real synergies between the various divisions of the group and therefore few barriers to breaking it up. Whereas cash logistics and home security are highly profitable, with margins of around 7.5% and 23% respectively, Bax Global has an operating margin of 2.3%. Even this marks a considerable improvement on 2003 when the division just about broke even. In the Americas the company made losses in 2003 and 2002.