Bengaluru, NFAPost: Delhivery, a leading end-to-end logistics, and supply chain services company in India, confirmed the acquisition of Bengaluru-based Spoton Logistics.
“This development is consistent with our objective of being growth-oriented and building scale in each of our business lines. Over 10 years Delhivery has established a leading position in B2C logistics and now by combining our part truckload business with Spoton’s we will be on the path to the same position in B2B express as well,” Delhivery CEO Salil Barua said
This move will strengthen Delhivery’s existing B2B capabilities. Samara Capital and Xponentia that together acquired Spoton from IEP in 2018, are making a full exit for cash as part of the transaction.
Delhivery is a leading end-to-end logistics and supply chain services company in India. With its nationwide network covering over 19,400 pin codes, the company provides a full suite of logistics services.
“The Spoton team and I are hugely excited to be part of Delhivery’s journey of growth and value-creation. The Delhivery team has done a tremendous job in creating a leading end-to-end logistics, and supply chain services company in India in a short span,” Spoton Logistics MD Abhik Mitra said.
Spoton Logistics, an engineering and technology-driven logistics company, is a leading multimodal express logistics and supply chain solutions company in India.
The company started its journey in 2012 when private equity firm India Equity Partners bought the domestic business from TNT India.
In 2018, Spoton partnered with a consortium of investors led by Samara Capital and Xponentia Fund Partners to build the next stage of its growth.
“Spoton is known for its focus on customer relationships and service quality, professional management and technology and engineering, which are values shared by Delhivery as well, and that sets us up to together be one of India’s leading logistics companies,” he said.
The firm will continue to invest in improving its clients’ businesses through investments in people, technology, network and infrastructure, he added.
Kotak Mahindra Capital Company acted as the financial advisor and Shardul Amarchand Mangaldas & Co. acted as the legal advisor to Delhivery on this transaction
“Spoton is a great business. Abhik and the team have done a fantastic job of building the company … Our combined scale and focus on technology and data will enable us to develop new solutions for our customers and allow us to enter new verticals in freight,” Delhivery Chief Business Officer Sandeep Barasia said.
Delhivery has successfully fulfilled over 1 billion shipments since inception and today works with over 17,000 customers, including large and small e-commerce participants, SMEs, and other enterprises and brands.