TVS Logistics gets $53 million equity fundingApril 19th, 2012 - 6:19 pm ICT by IANS
Chennai, April 19 (IANS) Logistics major TVS Logistics Services Ltd Thursday announced that an agreement with an affiliate of Kohlberg Kravis Roberts & Co LP (KKR) and Goldman Sachs has been reached for an investment of Rs.2,688 million (around $53 million) in the company.
“KKR a leading global investment firm will invest Rs.2,424 million (around $47 million). Goldman Sachs, a leading global investment bank and initial outside investor in the company, will make an add-on investment,” said TVS Logistics in a statement issued here.
According to TVS Logistics, the primary proceeds will be used to further expand the company’s logistics business.
This is the second time TVS Logistics has successfully received private equity funding. In 2008, Goldman Sachs made an initial investment in the company.
“We decided to go for the second round of funding because we see the market potential and opportunity for us to expand and grow globally,” the statement quoted TVS Logistics managing director R. Dinesh as saying.
“The additional investment will allow TVS Logistics to continue its expansion both through acquisitions and organic growth. Besides growing with our existing customer base, we also look forward to our private equity investors Goldman Sachs and KKR helping us expand our capabilities and geographic footprint,” he added.
- Yahoo Ascends in 2010 After Reports Of Buyout Keenness In KKR - Nov 10, 2010
- 'Rajat Gupta had a good tenure at Goldman' - Jun 08, 2012
- Arun Sarin rejoins private equity firm KKR - Oct 08, 2009
- Ex-Goldman Sachs director Gupta arrested, charged in insider trading case - Oct 26, 2011
- $42 bn UN pension fund scouts for investment opportunities in India (Lead) - Feb 15, 2011
- UN pension fund proposes higher investment in India - Feb 15, 2011
- Rajat Gupta faces more insider-trading charges - Feb 01, 2012
- Standard Chartered Equity invests Rs.130 crore in Karaikal port - Jun 27, 2012
- Facebook turns into hot investment property after raising $1.5bn - Jan 22, 2011
- Rajat Gupta takes leave from his PE firm - Mar 11, 2011
- Investing In Facebook May Not Be A Possibility - Jan 04, 2011
- Madurai to Michigan - TVS Logistics acquires US company - Jan 18, 2011
- Rajat Gupta's lawyers say others tipped Rajaratnam - Jun 07, 2012
- Facebook To Unveil Its Financial Workings - Jan 24, 2011
- TVS Logistics to assemble gensets for Ashok Leyland - Aug 22, 2011
Tags: acquisitions, customer base, dinesh, geographic footprint, global investment bank, goldman sachs, initial investment, investment firm, kkr, kohlberg kravis roberts, logistics services, managing director, organic growth, private equity funding, private equity investors, proceeds, rs 2, second time, services ltd, tvs