Spoton Logistics, a multi-modal express logistics company in India, is close to announcing an acquisition of a third-party logistics (3PL) company to provide a comprehensive offering to its customers. The company is doing due diligence with two to three players and the announcement is expected in a few quarters.
“We are looking at an inorganic play in third-party logistics space which will be an acquisition or partnership. We are evaluating a few different scenarios,” said Abhik Mitra, MD & CEO, Spoton Logistics.
“Our customers who avail express business also need a third party logistics. It is a player with pan-India presence. We are looking at it internally between us and our investors. We have not reached a firm conclusion. But funding is not an issue,” he said.
“So, thereafter, Spoton will have an express business which will combine the air express and road express business. And another business called the third party logistics. These will be two separate business units run with their own set of key performance indicators and metrics. We will look at synergy possibilities,” he added.
The company had grown from ₹180 crore in 2012 to ₹700 crore this year and the growth momentum would continue despite the temporary setback to the economy, he said.
“Over the last three years we had a CAGR of 25% as compared to industry growth of 12-13%. That makes us the fastest-growing express logistics company in India. We have more headroom for growth,” he added.
