PE firms to acquire India's Spoton Logistics for $78m

Spoton was created in 2012 after IEP acquired the Indian express delivery business of Netherlands-based logistics provider TNT Express for an undisclosed amount. The company has three regional offices, 11 hubs, and eight depots in India and provides logistics services to more than 4,000 corporate and small business customers in a range of industries.

“The Spoton leadership team has done a fantastic job in building a defensible and profitable proposition in the opportunity-rich logistics sector,” said Abhishek Kabra, a director at Samara, in a statement. “Spoton’s success has been driven by strong corporate governance and an outstanding management team, supported by a pan-India network driven by global-quality network engineering.”

India’s logistics space has received considerable interest from PE investors, with strong growth in the country’s e-commerce sector boosting demand for shipping and warehousing capacity. The goods and services tax is also expected to encourage the development of nationwide logistics networks by eliminating most of the country’s internal tariffs and customs barriers.

Xponentia was launched earlier this year by CX co-founder Ajay Relan, former Carlyle managing director Devinjit Singh, and P.R. Srinivasan, previously head of India and managing director at CVCI. The firm focuses on buyouts and significant minority transactions in the financial and business services, consumer, healthcare, industrials, and logistics sectors.

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• Topics
• South Asia
• Buyouts
• Trade sale
• Infrastructure
• India
• Samara Capital
• Logistics
• Secondaries