TVS Supply Chain Solutions (TVS SCS), one of the leading providers of integrated supply chain solutions has acquired a controlling stake (69.1%) in Bangalore-based FIT 3PL Warehousing (FIT 3PL), an end-to-end contract logistics services provider.
The transaction aims to strengthen the existing all-India presence of TVS SCS through an addition of more than 1.5 million square feet of warehouse space, unlocking new levels of efficiency and synergies.
TVS SCS says FIT 3PL is one of the few independent Indian logistics companies with all-India presence and has consistently delivered strong and profitable revenue growth over the years.
Ravi Viswanathan, joint MD, TVS Supply Chain Solutions said, “FIT 3PL is an important business addition and will further strengthen TVS SCS’ pan India presence. Our full range of technology capabilities can be leveraged to increase cross-selling and up-selling opportunities and provide solutions for all new and existing customers of FIT 3PL. This acquisition will advance TVS SCS’ technology position by adding scale and empowering customers to optimise their supply chains using the power of emerging technologies.”
Set up in 1997, FIT 3PL is a full-fledged 3PL company, provides end-to-end contract logistics services to over 70 customers across sectors such as office automation, FMCD, FMCG, e-commerce, retail, auto & engineering and hi-tech. It has network including 60 plus facilities managing more than 1.5 million square feet of space across 30 cities in India at high occupancy. These warehouses are strategically located in Tier 1; Tier 2 cities with proximity to major Industrial zones, ICDs and warehousing hubs. Earlier known as Jayem Warehousing Private Limited, the Company was rebranded as FIT 3PL Warehousing Private Limited in 2020.
TVS says the company has a two pronged approach to sustainable growth by operating in the 3PL-warehousing space which is a high growth sector and the road transportation space that is a huge market in itself. Within warehousing the company is focused on white goods, which is on a high growth trajectory. With a well-entrenched network across India, it will be able to cater to the surge in demand originating from any geography.