The Carlyle Group buys stake in Delhivery
The Carlyle Group has bought a “significant” minority stake in the Indian logistics company Delhivery. Tiger Global, one of the existing investors of Delhivery, also invested additional capital. The combined investment is more than US$100m.
Founded in 2011, Delhivery provides express logistics services in over 600 cities in India and operates 12 fulfilment centres. In addition, the company provides less-than-truckload shipping, full-truckload shipping, cross-border delivery and a range of supply chain technology products to enterprises and small businesses.
Neeraj Bharadwaj, Managing Director of the Carlyle Asia buyout team, said: “We have been very impressed with Delhivery’s management team and the company’s strong execution capabilities, leveraging its extensive network and proprietary technology platform. We are delighted to partner with the management and expect to leverage our global experience in the logistics sector to assist the company with operational improvements and business expansion.”
“We see significant potential for technology-enabled logistics in the country with the growth of e-commerce as well as increasing customer focus on on-time delivery and service levels. Delhivery, with its industry-leading service metrics and cost efficiency, is well-positioned to benefit from these future growth opportunities.”