TVS Supply Chain Solutions (TVS SCS) on Wednesday announced that TVS family members, along with their associates, will repurchase the stake held by private equity firm CDPQ, having received the CCI approval.
This transaction will allow the TVS family to consolidate its holdings in TVS SCS, it said in a statement. It would also enable the company to focus on further scaling up business using ‘technology and strong customer relationships’, it added.
The repurchase by TVS family members (R. Dinesh and T.S. Rajam family and associates) reaffirms the company’s growth potential and its future prospects, it added.
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In 2016, Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) had acquired a substantial minority stake in TVS SCS for ₹1,000 crore.
“With the global supply chain’s centre of gravity shifting towards India and other ASEAN countries and the exciting future for the manufacturing and service sectors in India, TVS SCS is well placed to see exponential growth over the coming years,” said R. Dinesh, MD, TVS SCS.
“TVS SCS was one of CDPQ’s first private equity transactions in India, an innovative market with many investment opportunities. Together, we have grown the business, and it is now poised to take advantage of further opportunities to consolidate its position in key markets, in India and abroad,” said Martin Laguerre, EVP and head, Private Equity and Capital Solutions, CDPQ.
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TVS Supply Chain Solutions offers logistics and supply chain solutions in India and for the international market.