AVCJ

Everstone, Fidelity exit Transpole to Japan's SBS

  • Andrew Woodman
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Everstone Capital and Fidelity Growth Partners will exit Transpole Logisitcs as Japan's SBS Group agreed to acquire a majority stake in the Indian company for an undisclosed amount.

According to a release, SBS will acquire 66% - or 3.4 million shares - via its wholly-owned subsidiary, SBS Logistics Holdings Singapore.

AVCJ Research's records show that Fidelity paid $13.5 million for a significant minority stake in the company in April 2011. It then made a partial exit in January last year when Everstone paid INR2.2 billion (around $40 million) for a near 25% stake.

Set up in 2004 and headquartered in New Delhi, Transpole offers logistics services covering freight forwarding, transportation, customs clearance, project logistics, warehousing and distribution. The company employs around 540 people and has 18 offices in India and 11 overseas, including bases in Singapore, Malaysia, Hong Kong, South Korea and China.

At the time Everstone invested, the company had reported compound annual growth of more than 60% over the previous five years.

Founded in 1987, SBS provides various logistics services and claims to be a leading player in the land transportation segment. It is also has interests in marketing, human resources and financial service for its corporate clients.

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