TVS Logistics Services, an Indian third-party logistics service provider, has received an INR 2,688m second private equity investment (approximately US$53m).
Backers include global investment firm KKR, which will invest INR 2,424m (approximately US$47m), and Goldman Sachs (NYSE: GS), a global investment bank and initial outside investor in the company, which will make an add-on investment.
The company intends to use the proceeds to further expand its logistics business both organically and through acquisitions.
Led by Mr. R. Dinesh, Managing Director, and Mr. S. Ravichandran, Executive Director, TVS Logistics Services provides logistics solutions across multiple verticals including automotive, distribution, electronics, and discrete component manufacturing. The company focuses on supply chain solutions, warehousing solutions, and asset based value added services including material handling and executive commutation. The company started as a business unit of T V Sundram Iyengar & Sons Limited in the year 1995. This business unit was established as a separate entity, named TVS Logistics Services Limited, in December 2004.
The company currently has operations in U.S.A., U.K., Europe, Thailand, etc.