The company says it will use the fund to grow its business, further strengthen its technology capability, and for other transformational initiatives.
11 Oct 2021 | 4505 Views | By Autocar Pro News Desk
TVS Supply Chain Solutions (TVS SCS), the global provider of integrated supply chain solutions, is betting on future-proofing itself and driving new business. The company has raised Rs 590 crore from a fund managed by Exor, the Europe-based leading diversified holding company controlled by the Agnelli family.
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TVS Supply Chain Solutions (TVS SCS), the global provider of integrated supply chain solutions, is betting on future-proofing itself and driving new business. The company has raised Rs 590 crore from a fund managed by Exor, the Europe-based leading diversified holding company controlled by the Agnelli family.
It maybe recollected that in 2020, Private equity firm Gateway Partners has committed to acquire a minority stake in TVS Supply Chain Solutions (TVS SCS) for $100 million (Rs 740 crore). It was the second-largest private equity investment in TVS SCS after CDPQ, one of North America’s largest pension fund managers, invested $155 million (Rs 1,147 crore) in TVS SCS in 2016.
The company says it will use the fund to grow its business, further strengthen its technology capability, and for 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.
R Dinesh, MD, TVS Supply Chain Solutions, 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.”