Mumbai: TVS Supply Chain Solutions (TVS SCS), an integrated supply chain solutions provider, has acquired Bengaluru-based FIT 3PL Warehousing Private Limited (FIT 3PL), an end-to-end contract logistics services provider.
TVS SCS acquired 69.1% in FIT 3PL from FIT Consulting and Services Private Limited. This transaction will strengthen the existing pan-India presence of TVS SCS through the addition of more than 1.5 mn sq. ft of warehouse space, unlocking new levels of efficiency and synergies.
FIT 3PL is one of the few independent logistics companies in India with a presence pan India and has consistently delivered strong and profitable revenue growth over the years.
Ravi Viswanathan, Deputy General Manager, TVS Supply Chain Solutions, said: "Our full suite of technology capabilities can be leveraged to increase cross-sell and oversold opportunities, providing solutions to all existing and new FIT 3PL customers. Further strengthen the technological position of TVS SCS by adding reach and enabling customers to improve their supply chains using the power of emerging technologies. "
Set up in 1997, FIT 3PL is a full-fledged 3PL company, providing comprehensive contract logistics services to more than 70 clients in sectors such as office automation, consumer goods, e-commerce, retail, automotive, engineering and high technology. FIT 3PL has a presence throughout India and a network of 60 facilities, as well as managing more than 1.5 mn. sq. ft of space across 30 cities in India at high occupancy.
Warehouses are located in Tier 1 and Tier 2 cities near major industrial areas, ICDs, and warehousing centers. Earlier known as Jayem Warehousing Private Limited, the company was rebranded ad FIT 3PL Warehousing Private Limited in 2020.
The company takes a two-pronged approach to sustainable growth by operating in 3PL warehousing space, which is a high-growth segment, and ground transportation space, which is a huge market in its own right. In warehousing, the company focuses on home appliances, which are on a high growth path. With a well-established network across India, the company will be able to meet the increased demand arising from any geographic area, it said.
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