Delhivery, a leading end-to-end logistics, and supply chain services company in India, confirmed the acquisition of Bangalore-based Spoton Logistics. This move further strengthens Delhivery's existing B2B capabilities.
Commenting on the announcement, 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".
Abhik Mitra, Managing Director, Spoton Logistics, said, "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 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.
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 organization with significant opportunities for growth".
Sandeep Barasia, Chief Business Officer of Delhivery, also added, "Spoton is a great business. Abhik and the team have done a fantastic job of building the company. We take great pleasure in welcoming the entire Spoton team to Delhivery. This is a coming together of two high quality companies with shared values. 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".
Samara Capital and Xponentia that together acquired Spoton from IEP in 2018, are making a full exit for cash as part of the transaction.
Kotak Mahindra Capital Company acted as the financial advisor and Shardul Amarchand Mangaldas & Co. acted as the legal advisor to Delhivery on this 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 such as express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, B2B & B2C warehousing, End-to-end supply chain services, and technology services. Delhivery has successfully fulfilled over 1 billion shipments since inception and today works with over 17,000 customers, including large & small e-commerce participants, SMEs, and other enterprises & brands. For more information about Delhivery, please visit www.delhivery.com.
About Spoton Logistics
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. A well-established network, and professional resources allows it to service customers in an array of industries, including Hi-tech, Automotive, Engineering, Pharmaceutical, Electronics & Electricals, and Lifestyle, Retail & eCommerce.