MUMBAI, India – KKR, a leading global investment firm, and LEAP India, a leading pallet pooling platform in India, have announced the signing of definitive agreements under which funds managed by KKR will acquire a majority stake in the Company.
Founded in 2013 by Sunu Mathew, LEAP is a leading pallet pooling platform in India, providing a wide range of innovative and high-quality supply chain solutions, including equipment pooling, returnable packaging, inventory management and movement, transportation, and repair and maintenance, to a diversified and large customer base across e-commerce, consumer durables, beverages, fast-moving consumer goods and automotive. LEAP operates a network of 21 warehouses and more than 3,500 customer locations, and manages more than 6 million total assets, including pallets and containers, across India for its customers.
This investment comes at a time of strong macroeconomic momentum in India, characterized by an emphasis on the modernization, automation, and optimization of supply chain and logistics services. Moreover, the role of sustainable logistics is projected to be crucial in propelling India’s swift economic expansion over the coming quarter-century. With Indian corporations increasingly prioritizing their core operations and sustainable logistics arrangements, platforms like LEAP are set to capture significant opportunities by providing efficient and high-quality supply chain solutions.
“We are pleased to invest in LEAP, a standout leader in India’s pallet pooling industry that will play an important role in driving the country’s continued modernization and growth,” said Ami Momaya, Director, Infrastructure at KKR. “LEAP is supporting this shift by providing the critical assets needed for the manufacturing, storage, and movement of goods in supply chains and in so doing also helps companies to be better equipped to improve the environmental impact of their operations. The Company has grown rapidly since its founding under the leadership of a talented management team, and we look forward to collaborating closely and leveraging our deep infrastructure experience, operational expertise and global networks to help LEAP achieve its next stage of transformation.”
“From Day One, LEAP’s mission has been to provide quality supply chain solutions to support our clients’ needs and contribute to India’s modernization,” added Sunu Mathew, Founder and Managing Director at LEAP India. “We are proud of our growth and grateful for the support received from our strategic partners and investors, including our first investor Mayfield, that have helped us to scale to where we are today. Going forward, we look to tap into KKR’s global expertise to accelerate our growth and deliver impactful solutions to our clients.”
Source: Businesswire