Switzerland based M+R Spedag Group has acquired a contolling stake in PL Shipping & Logistics Limited in an all cash deal. The deal size is estimated to be around 480 Mn Swiss Francs.
This investment will be used to incorporate two new firms. The incorporation is expected to offer Spedag’s customers and agent partners’ access to an extended Asian network, enhanced IT capabilities and an increased scope of services.
Post deal, Daniel Richner, owner and president of M+R Spedag will become the chairman of PL Shipping and Logistics.
Nishith Desai Associates was the legal advisor to M+R Spedag Group for this transaction.
Transaction Reference: InvestIndia
10 years old - PL Shipping is engaged in ocean, air and surface transportation of small, large and heavy lift cargo. It has a pan India presence with 340 employees across 13 offices in the country. It is also an affiliate of M+R Spedag in India.
The firm was set up as a JV between the 145-year Old Peirce Leslie group and its current MD- R.Ramkumar.
Peirce Leslie Group exited by selling its stake to private equity firm - Paracor India Investments Ltd. The company reported a turnover of Rs 105 Cr for the year ended March'10.
Basel based M+R Spedag was founded in 1952. It currently has more than 1200 employees on its payrolls at 60 branch offices across five continents.
The Indian logistics and warehousing space has seen a lot of fund raising activity in the recent past. Aqua Logistics came out with an public offer and also acquired three companies - CIT Logistics, TAG Logistics and AGI Logistics.
Ocean Sparkle raised private equity funding from Eredene Capital.
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 06/09/10 |
PL Shipping & Logistics - M+R Spedag Group |
M&A |
M+R Spedag Group |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 02/02/12 |
M&A |
Fairnair AG |
Quikjet Cargo Airlines Private Limited |
- |
Completed |
| 27/01/12 |
Private Equity |
Sattva Business Group |
Sattva CFS And Logistics Private Limited |
1.72 |
Completed |
| 16/01/12 |
Private Equity |
Looking For |
TVS Logistics Services Limited |
50.00 |
Planned |
| 11/01/12 |
Private Equity |
General Atlantic LLC |
Fourcee Infrastructure Equipments Private Limited |
104.00 |
Completed |
Company |
| Name | Promoters | Office | Competitor | Website |
| PL Shipping & Logistics Private Limited |
Mohanchandran Vapallakalathil |
37, Dr.P V Cherian Cresent, Egmore, Chennai-600008. Tamil Nadu, India. |
|
www.plsll.com |
