Delhivery acquires Bengaluru-based Spoton Logistics
Samara Capital and Xponentia, that together acquired Spoton from IEP in 2018, are making a full exit for cash as part of the transaction.
Gurugram-based has announced that it has acquired Bengaluru-based Spoton Logistics for an undisclosed amount to strengthen Delhivery's existing B2B capabilities.
Spoton Logistics started its journey in 2012 when a private equity firm 'India Equity Partners' bought the domestic business from TNT India. In 2018, Samara Capital and Xponentia acquired Spoton from IEP, and now with Delhivery's acquisition, Samara and Xponentia are making a full exit for cash.
Spoton operates a pan India network covering more than 300 locations and over 22,000 pincodes, and specialises in logistics services for sectors such as hi-tech, automotive, engineering, pharmaceutical, electronics & electricals and lifestyle & retail.
Sahil Barua, Delhivery CEO, said,
"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. More importantly, we are well placed to provide benefits of synergies between our B2C and B2B express businesses to the customers of both Delhivery and Spoton, and further enhance our end-to-end supply chain capabilities".
Sandeep Barasia, Chief Business Officer of Delhivery also added that Spoton and Delhivery's combined scale and focus on technology and data will enable Delhivery enter new verticals in freight.
Abhik Mitra, Managing Director, Spoton Logistics, said, "We will continue to invest in improving our clients’ businesses through our investments in people, technology, network and infrastructure. Our teams and our business partners will have an opportunity to be part of a much larger organisation with significant opportunities for growth".
Kotak Mahindra Capital Company acted as the financial advisor and Shardul Amarchand Mangaldas & Co. acted as the legal advisor to Delhivery on this transaction.
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Edited by Anju Narayanan