Singapore's Gateway invests $100m in TVS Supply Chain Solutions
Gateway Partners, an emerging markets-focused private equity firm based in Singapore, has invested $100 million in TVS Supply Chain Solutions (TVS SCS), an Indian supply chain management services company.
TVS SCS is the new name for what was the logistics division of TVS Group, an industrial conglomerate in South India, It operates warehouses and manages supply chains for large clients, primarily in the automotive, energy and industrial sectors. Further growth is expected in India as outsourcing of non-core operations accelerates among automotive manufacturers in the coming years.
Gateway, founded in 2014, connects private capital to attractive investment opportunities in the southern hemisphere. It is currently deploying a $757 million fund that closed in 2016. According to a statement, the GP acquired primary and secondary shares in TVS SCS. The latest investment follows a $155 million commitment from Caisse de dépôt et placement du Québec (CDPQ) in 2016. In each case, the size of the stake has not been disclosed.
“We look forward to working closely with TVS SCS and supporting its next stage of growth. As India's largest supply chain company with a global footprint, TVS SCS is well-positioned to continue providing end-to-end solutions for international and Indian customers," said Anand Kumar, co-founder of Gateway.
Other companies in the Gateway portfolio include biscuit manufacturer Mrs Bector's Food Specialities in India, real estate developer No Va Land in Vietnam, Singaporean healthcare provider Healthway Medical, Indonesian convenience store operator Indomaret, and Indonesian hospital and residential estate developer Lippo Karawaci.
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