October 11, 2021
TVS SCS raises INR 590 cr from a fund managed by Exor
Funds to be used for future growth and for transformational initiatives. Chennai, October 11, 2021: TVS Supply Chain Solutions (TVS...
FIT 3PL has end-to-end contract logistics capability and will add more than 1.5 mn sq.ft. of warehouse space into TVS SCS kitty
Chennai, 18th November, 2021 : TVS Supply Chain Solutions (TVS SCS), one of the leading providers of Integrated Supply Chain Solutions today announced that it has acquired Bengaluru-based FIT 3PL Warehousing Private Limited (FIT 3PL), an end-to-end contract logistics services provider. TVS SCS has acquired a controlling stake (69.1%) in FIT 3PL, from FIT Consulting and Services Private Limited. This transaction will strengthen the existing pan-India presence of TVS SCS through an addition of more than 1.5 mn sq. ft 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.
Mr. Ravi Viswanathan, Joint Managing Director, TVS Supply Chain Solutions, said, “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. 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, FMCD, FMCG, E-Com, Retail, Auto & 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 & Tier 2 cities with proximity to major Industrial zones, ICDs and warehousing hubs. Earlier known as Jayem Warehousing Private Limited, 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.