Carlyle invests in India’s largest third-party supply chain services company Delhivery
24 Mar 2017
US private equity firm The Carlyle Group today announced that it has acquired a significant minority stake in India's largest third-party supply chain services company Delhivery Pvt Ltd.
Tiger Global, one of the existing investors of Delhivery, also invested additional capital. The combined investment exceeds $100 million, valuing the Gurgaon-based company at around $700 million (Rs4700 crore).
Founded in 2011 as a food delivery company, Delhivery now provides express logistics services in over 600 cities in India and in more than 8,500 pin-codes and operates 12 fulfillment centers for B2C and B2B fulfillment services.
It also provides less-than-truckload shipping, full-truckload shipping, cross-border delivery and a range of supply chain technology products to enterprises and small businesses.
Neeraj Bharadwaj, managing director of the Carlyle Asia buyout team, said, ''We have been very impressed with Delhivery's management team and the company's strong execution capabilities, leveraging its extensive network and proprietary technology platform.''
''We are delighted to partner with the management and expect to leverage our global experience in the logistics sector to assist the company with operational improvements and business expansion,'' he added.
Sahil Barua, CEO and co-founder of Delhivery said, ''We are excited to partner with Carlyle as we continue to grow our business to meet the surging demand from our e-commerce clients, small businesses and enterprises who are rapidly digitizing their supply chain operations. We believe Carlyle's global network and industry expertise will enable us to expedite our growth strategy.''
Carlyle, the world's second-biggest private equity firm, has invested more than $1.4 billion in more than 30 transactions in India as of 31 December 2016.
With $158 billion of assets under management, Carlyle employs more than 1,600 people in 35 offices across six continents.
