In a major boost to its infrastructure presence in Asia, investment firm KKR, acquired majority stake in LEAP India, which is a pallet pooling platform in India, the company announced on Wednesday. With this deal, the funds managed by KKR will acquire a majority stake in the Company.
The transaction for the deal will be completed by Q3 2023, if all the things related to customary pre-closing and closing conditions go as per schedule.
The deal will help KKR in the execution of its Asia infrastructure strategy. In the past, the company has also invested in Serentica Renewable, a decarbonization platform that seeks to provide complex clean energy solutions for energy-intensive, hard-to-abate industries; Hero Future Energies, Highways Infrastructure Trust, Virescent Infrastructure, and IndiGrid.
“We are pleased to invest in LEAP, a standout leader in India’s pallet pooling industry that will play an important role in driving the country’s continued modernization and growth. LEAP is supporting this shift by providing the critical assets needed for the manufacturing, storage, and movement of goods in supply chains and in so doing also helps companies to be better equipped to improve the environmental impact of their operations,” said Ami Momaya, Director, Infrastructure at KKR.
Leap India currently operates 21 warehouses in different locations
Founded in 2013, Leap India provides logistics and supply chain solutions to the industry. Founded by Sunu Mathew, the company is involved in providing pallet services and other supply chain solutions like equipment pooling, returnable packaging, inventory management and movement, transportation, and repair and maintenance.
Currently the company is operating 21 warehouses and provides its services to more than 3,500 customer locations and manages more than 6 million total assets, including pallets and container
“From Day One, LEAP’s mission has been to provide quality supply chain solutions to support our clients’ needs and contribute to India’s modernization. Going forward, we look to tap into KKR’s global expertise to accelerate our growth and deliver impactful solutions to our clients,” said Sunu Mathew, Founder and Managing Director at LEAP India.
