Singapore headquartered private equity firm Gateway Partners will buy a minority stake in TVS Supply Chain Solutions for $100 million in a deal involving fresh share issue and a secondary share sale.
The deal is the second-largest private equity investment in the company following the $155 million deal by Quebec-based pension fund CDPQ in 2016, a statement said.
Details on the secondary stake sale, however, were not disclosed.
“The company has been growing significantly both in domestic and international operations thanks to our customer-focused approach and digital capabilities. I am confident Gateway as an investment partner will add value and help TVS Supply Chain Solutions to expand its footprint and grow,” R. Dinesh, MD of TVS Supply Chain Solutions said.
TVS Supply Chain Solutions, part of the motorcycle maker TVS Group, provides end-to-end logistics solutions to companies from across sectors including automobile, beverages, information technology, healthcare, telecom, retail and defence. It has operations in 14 countries, including India, the USA, the UK, Spain, Germany, Italy, France, Singapore, Hong Kong, Thailand, China, Australia, New Zealand and Mexico.
“As India’s largest supply chain company with a global footprint, the company is well-positioned to continue providing end-to-end solutions for international and Indian customers. We believe the company is uniquely placed to leverage the growing global demand for value-added supply chain management services,” Anand Kumar, co-founder and partner of Gateway Partners, said.
Other than TVS Supply Chain Solutions, Gateway Partners has invested in bread and biscuit maker Mrs. Bectors Food Specialities. It also has investments in the Asia Pacific, Middle East and Africa markets.