TVS SCS will use the fund to grow its business, further strengthen its technology capability, and for other transformational initiatives
TVS Supply Chain Solutions (TVS SCS), one of the World’s leading providers of Integrated Supply Chain Solutions which includes Global Forwarding and Last Mile, today announced that it had raised INR 590 cr from a fund managed by Exor, the Europe-based leading diversified holding company controlled by the Agnelli family (www.exor.com).
TVS SCS will use the fund to grow its business, further strengthen its technology capability, and for other transformational initiatives. Earlier this year, Exor, through another fund managed by them, had invested in Ki Mobility Solutions – a subsidiary of TVS Automobile Solutions.
Mr. R. Dinesh, Managing Director, TVS Supply Chain Solutions, said, “The investment by Exor reiterates TVS SCS’ growth potential and our vision. Supply Chain as a sector in India is expected to grow in double digits and TVS SCS will leverage its tech-enabled Global solutions to outgrow the industry. I am confident that this investment will significantly add value to our business and provide the necessary impetus to achieve our growth potential.”
Rothschild & Co. partnered with TVS SCS on this transaction in line with the strategic vision of the organisation. Khaitan & Co. and Nishith Desai Associates acted as counsel to TVS SCS and Exor respectively for this deal.
Source: Business World