KKR Acquires Controlling Stake in Logistics Firm LEAP India
- ByStartupStory | August 2, 2023
Global private equity firm KKR has announced the acquisition of a majority stake in LEAP India, a leading pallet pooling platform. The move aligns with the favorable economic conditions, with logistics poised to be a pivotal driver of India’s growth over the next two and a half decades. The specific financial terms of the deal, however, have not been disclosed. The transaction is set to conclude by September, contingent on standard pre-closing and closing conditions.
LEAP India specializes in providing comprehensive supply-chain solutions to various sectors, including ecommerce, consumer durables, beverages, fast-moving consumer goods, and automotive industries. Their services encompass equipment pooling, returnable packaging, inventory management and movement, transportation, as well as repair and maintenance.
Founded in 2013, LEAP India has experienced rapid expansion over the years, operating an extensive network comprising 21 warehouses and serving over 3,500 customer locations. The firm manages a substantial asset base, boasting more than 6 million total assets, including containers and pallets.
Ami Momaya, KKR’s director for infrastructure, highlighted the platform’s impressive growth trajectory since its inception. LEAP India’s founder and managing director, Sunu Mathew, noted that KKR’s global expertise is expected to accelerate the company’s growth further. Notably, Mayfield had been one of the platform’s early investors.
As the logistics landscape continues to evolve, KKR’s investment in LEAP India underscores its commitment to capitalizing on India’s emerging growth opportunities in this crucial sector.
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