TVS Supply chain acquires majority stake in logistics firm FIT 3PL

Picks up 69% for undisclosed sum; deal will strengthen existing pan-India presence of TVS SCS with addition of over 1.5 mn sq ft of warehouse space

TVS Supply Chain Solutions (TVS SCS), the logistics arm of $8.5 billion TVS Group, has acquired a majority stake of 69 per cent in Bengaluru-based FIT 3PL Warehousing (FIT 3PL), an end-to-end contract logistics services provider, for an undisclosed amount from FIT Consulting and Services.

This transaction will strengthen the existing pan-India presence of TVS SCS through an addition of more than 1.5 million square feet of warehouse space, unlocking new levels of efficiency and synergies. FIT 3PL is one of the few independent Indian logistics companies with pan India presence and has consistently delivered strong and profitable revenue growth over the years.

“FIT 3PL is an important business addition and will further strengthen TVS SCS’ pan India presence. Our full range of technology capabilities can be leveraged to increase cross-selling and up-selling opportunities, and provide solutions for all new and existing customers of FIT 3PL,” said Ravi Viswanathan, Joint Managing Director, TVS Supply Chain Solutions. This acquisition will advance TVS SCS’ technology position by adding scale and empowering customers to optimize their supply chains using the power of emerging technologies.”

Set up in 1997, FIT 3PL, a full-fledged 3PL company, provides end-to-end contract logistics services to over 70 customers across sectors such as office automation, FMCG, e-commerce, retail, auto and engineering and hi-tech. FIT 3PL’s pan-India presence and the network includes 60 plus facilities managing more than 1.5 mn. Sq. Ft of space across 30 cities in India at high occupancy. These warehouses are strategically located in Tier 1 and Tier 2 cities with proximity to major Industrial zones, ICDs and warehousing hubs, a company statement said. Earlier known as Jayem Warehousing, the Company was rebranded as FIT 3PL Warehousing Private Limited in 2020.

“The Company has a two pronged approach to sustainable growth by operating in the 3PL-Warehousing space which is a high growth sector and the road transportation space that is a huge market in itself. Within warehousing, the company is focused on white goods, which is on a high growth trajectory. With a well-entrenched network across India, the Company will be able to cater to the surge in demand originating from any geography,” the statement added.