TVS SCS Acquires Controlling Stake In FIT 3PL
The acquisition has been made to strengthen its existing pan-India presence through an addition of more than 1.5 mn sq. ft of warehouse space.
TVS Supply Chain Solutions (TVS SCS) has acquired Bengaluru-based FIT 3PL Warehousing Private Limited (FIT 3PL), an end-to-end contract logistics services provider. TVS SCS now has a controlling stake of 69.1 per cent in FIT 3PL, from FIT Consulting and Services Private Limited. This acquisition has been made to strengthen its existing pan-India presence through an addition of more than 1.5 mn sq. ft of warehouse space, which will further enhance its efficiency and synergies. FIT 3PL has has consistently delivered strong and profitable year-on-year revenue growth.
Ravi Viswanathan, Joint Managing Director, 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 optimize their supply chains using the power of emerging technologies.”
Established in 1997, FIT 3PL provides end-to-end contract logistics services to over 70 customers across sectors such as office automation, FMCD, FMCG, E-Com, Retail, Auto & Engineering and Hi-Tech. The company’s pan-India presence and the network includes 60 plus facilities managing more than 1.5 mn. Sq. Ft of space across 30 cities in India at high occupancy. These warehouses are located in both Tier 1 and Tier 2 cities within close proximity to major Industrial zones, ICDs and warehousing hubs. In 2020, the company rebranded itself from Jayem Warehousing Private Limited to FIT 3PL Warehousing Private Limited.