Global investment firm KKR has made a significant move in the Indian market by acquiring a majority stake in LEAP India, the pallet pooling platform. While the deal value remains undisclosed, this marks KKR’s latest infrastructure investment in India, adding to its portfolio that includes deals with Hero Future Energies, Serentica Renewables, and Virescent Infrastructure, among others.
Completion Expected by Q3 2023
KKR is set to complete the acquisition of LEAP India in the third quarter of 2023. The completion is subject to customary pre-closing and closing conditions. This development solidifies KKR’s presence in India’s thriving infrastructure sector. It also strengthens KKR’s investment position in the region.
LEAP India’s Innovative Supply Chain Solutions
Sunu Mathew founded LEAP India in 2013. The company offers innovative and high-quality supply chain solutions. It caters to diverse industries, including ecommerce, consumer durables, beverages, and more. The services provided by LEAP India include equipment pooling, returnable packaging, inventory management, transportation, and repair and maintenance. The company serves a large and varied customer base.
Strong Backing and Expansion
LEAP India has garnered substantial support, raising over $100 million in multiple funding rounds and attracting investments from prominent entities like TVS Capital, Schroder Adveq, IIFL Fund, and others. Earlier this year, LEAP also made its own strategic move by acquiring Mumbai-based asset-renting firm SKAN Marine. Currently, the startup operates a network of 21 warehouses and over 3,500 customer locations, managing more than 6 million total assets, including pallets and containers, for its clients.
LEAP India’s Role in India’s Modernization and Growth
Ami Momaya, Director of Infrastructure at KKR, expressed confidence in LEAP India’s potential, calling it a “standout leader” in India’s pallet pooling industry. Momaya believes the platform will play a pivotal role in driving India’s continued modernization and growth. With a talented management team leading the company’s rapid growth, KKR looks forward to leveraging its deep infrastructure experience, operational expertise, and global networks to support LEAP India’s transformation in its next phase of development.
Deloitte and Transaction Square advised the platform during the acquisition. Anagram Partners acted as its legal advisor. KKR stated that the investment aligns with strong macroeconomic tailwinds in India. They focus on modernizing, automating, and optimizing efficiencies in supply chain and logistics services. Indian corporations seek to streamline logistics arrangements and prioritize core operations. LEAP India’s high-quality and efficient supply chain solutions hold significant opportunities in the market.
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