Everstone Capital invests in Transpole Logistics amid Fidelity part-exit


India-focused private equity firm Everstone Capital has reportedly picked up a minority stake in Transpole Logistics for INR2.2bn ($40.9m).

Existing investor Fidelity Growth Capital will make a partial exit from the business as part of the deal, according to India’s Business Standard.

Transpole plans to use the capital to expand its international offices in China, Hong Kong, Malaysia, Singapore and South Korea, and explore further opportunities in warehousing and distribution, the report said.

The company has grown to provide logistics services across India, China, and South East Asia since it was founded in 2004.

Everstone CEO and partner Dhanpal Jhaveri told Business Standard, “The company is led by a highly entrepreneurial team and is at a very promising phase.

“We like the sector and are confident that we will be able to scale up Transpole’s business in India and overseas.”

Everstone closed its second fund on $580m in March 2011.

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