Piramal Enterprises Limited has committed Rs 485 crore to integrated third party logistics solutions provider Apollo LogiSolutions(ALS). It has done so through its subsidiary Piramal Finance. The investments were made through the corporate finance group(CFG) of Piramal Finance Limited.
Piramal said it will be a long-time investor with the company as it seeks to scale up its operations over the coming years. ALS plans to use this growth capital in various capacities such as the organic growth of existing business, ramping up of new business ventures besides the consolidation of ownership in various joint ventures, according to the company.
“The logistics space has been on our radar as a focus area for a while now. As is standard practice across our platform, we committed to an in-depth study of the sector over the past few quarters which culminated into this transaction. We look forward to more such transactions as we further scale up our investment focus towards this sector, ” Piramal Finance managing director Khushru Jijina said.
It offers capital across the risk curve including senior debt, acquisition finance, promoter finance, private equity exits alongside its previous focus on mezzanine investments.
Established in 2009, Apollo LogiSolutions provides end-to-end logistics services through its global network spread across multiple locations.
Source: Business-Standard 