CHENNAI: E-commerce logistics company Delhivery has taken over Spoton Logistics, by buying out stakes held by Samara Capital and Xponentia Capital, in a cash deal worth about Rs 1,600 crore.
Spoton, a B2B (business-to-business) logistics company, was fully owned by the two PE (private equity) investors, who are exiting after three years. Earlier, India Equity Partners had picked up the stakes of TNT India in Spoton, which were later sold to the two PE firms.
P R Srinivasan, managing partner at Xponentia Capital, said, “After being spun off in early 2012 with revenues of less than Rs 12 crore a month, the company has been able to grow close to Rs 1,000 crore a year, due to the emphasis on technology.”
In the last three years, Spoton acquired RTS (a supply chain solutions business) and set up two new verticals focused on “Air express” and “non-corporate customers”. “ Spoton’s net sales, and earnings grew at a CAGR of 24% and 30%, respectively,” the company said.
