Supply chain firm Delhivery acquires Spoton Logistics for unknown sum

Samara Capital and Xponentia, which together acquired Spoton from IEP in 2018, are making a full exit for cash as part of the deal

Logistics and supply chain services player Delhivery announced the acquisition of Bengaluru-based Spoton Logistics as it strengthens it B2B capabilities. The financial details of the deals were not disclosed.

Spoton Logistics is an engineering and technology-driven logistics company. The company started its journey in 2012 when private equity firm India Equity Partners bought the domestic business from TNT India. In 2018, Spoton partnered with a consortium of investors led by Samara Capital and Xponentia Fund Partners to build the next stage of its growth.

Samara Capital and Xponentia, which together acquired Spoton from IEP in 2018, are making a full exit for cash as part of the transaction.

"This development is consistent with our objective of being growth-oriented and building scale in each of our business lines. Over 10 years Delhivery has established a leading position in B2C logistics and now by combining our part truckload business with Spoton's we will be on the path to the same position in B2B express as well. More importantly, we are well placed to provide benefits of synergies between our B2C and B2B express businesses to the customers of both Delhivery and Spoton, and further enhance our end-to-end supply chain capabilities," said Sahil Barua, Delhivery CEO.

Abhik Mitra, Managing Director, Spoton Logistics, said, "The Delhivery team has done a tremendous job in creating a leading end-to-end logistics, and supply chain services company in India in a short span. We will continue to invest in improving our clients’ businesses through our investments in people, technology, network and infrastructure. Our teams and our business partners will have an opportunity to be part of a much larger organization with significant opportunities for growth."

Sandeep Barasia, Chief Business Officer of Delhivery, also added, "Spoton is a great business. Abhik and the team have done a fantastic job of building the company. We take great pleasure in welcoming the entire Spoton team to Delhivery. This is a coming together of two high quality companies with shared values. Our combined scale and focus on technology and data will enable us to develop new solutions for our customers and allow us to enter new verticals in freight".

Kotak Mahindra Capital Company acted as the financial advisor and Shardul Amarchand Mangaldas & Co. acted as the legal advisor to Delhivery on this transaction.