Leading provider of integrated supply chain solutions including global forwarding and last mile, TVS Supply Chain Solutions (TVS SCS) has on Monday announced that it had raised INR 590 crore from a fund managed by Exor, the Europe-based leading diversified holding company controlled by the Agnelli family.
Rothschild & Co partnered with TVS SCS on this transaction in line with the organisation’s strategic vision. Khaitan & Co and Nishith Desai Associates acted as counsel to TVS SCS and Exor respectively for this deal, the company said in a statement.
TVS SCS will use the fund to grow its business, further strengthen its technology capability, and 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, the statement added.
TVS SCS has grown organically and through strategic acquisitions to become a fully integrated global supply chain solutions provider. As a result, the company has been able to deliver value to its customers in every country of its presence through continuous innovation, differentiation, and quality of service. It serves customers in over 50 countries covering India, UK & Europe, Americas, Asia Pacific and Oceania.
R Dinesh, Managing Director, TVS SCS, 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.”