Carlyle Group acquired a minority stake in Delhivery Private Limited, which provides supply-chain services for digital commerce businesses. Carlyle invested in the company through its Asia Partners IV. Existing investor Tiger Global also made an additional investment in Delhivery.
Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it has acquired a significant minority stake in Delhivery Private Limited, India’s largest third-party supply chain services company focused on digital commerce. Equity for this transaction came from Carlyle Asia Partners IV. Tiger Global, one of the existing investors of Delhivery, also invested additional capital. The combined investment is more than US$100 million.
Founded in 2011, Delhivery provides express logistics services in over 600 cities in India and in more than 8,500 pin-codes and operates 12 fulfillment centers for B2C and B2B fulfillment services. 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,” he added.
Sahil Barua, CEO & Co-Founder of Delhivery Private Limited, commented, “We are excited to partner with Carlyle as we continue to grow our business to meet the surging demand from our e-commerce clients, small businesses and enterprises who are rapidly digitizing their supply chain operations. We believe Carlyle’s global network and industry expertise will enable us to expedite our growth strategy.”
Carlyle has invested more than US$1.4 billion of equity in over 30 transactions in India across all Carlyle funds as of December 31, 2016.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $158 billion of assets under management across 281 investment vehicles as of December 31, 2016. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pension funds. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,600 people in 35 offices across six continents.
About Delhivery Private Limited
Founded in 2011, Delhivery’s vision is to create India’s leading fulfillment platform aimed at digital commerce. The company provides express logistics services in over 600 cities in India and in more than 8,500 pin-codes and operates 12 fulfillment centers for B2C and B2B fulfillment services. 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.