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LEAP India sees KKR acquiring a majority stake

Aug 3, 2023

By: BlinkX Research Team

KKR, a global private equity investor, has announced that it signed definitive agreements to acquire a majority stake in LEAP India, a prominent pallet pooling platform in India. The financial terms of the deal were not disclosed. This investment comes after KKR made an additional investment of around $250 million in Serentica Renewables in May.

KKR stated that the investment aligns with India's macroeconomic tailwinds, with logistics expected to play a crucial role in the country's growth over the next 25 years. The transaction is anticipated to be finalized by September, subject to customary pre-closing and closing conditions.

LEAP India offers supply-chain solutions, including equipment pooling, returnable packaging, inventory management, transportation, and repair and maintenance services to various sectors, such as e-commerce, consumer durables, beverages, fast-moving consumer goods, and automotive.

The platform operates through a network of 21 warehouses and serves over 3,500 customer locations, managing more than 6 million total assets, including pallets and containers. KKR's director for infrastructure, Ami Momaya, emphasized the platform's rapid growth since its inception in 2013. Meanwhile, the founder and managing director of LEAP India, Sunu Mathew, expressed the company's eagerness to leverage KKR's global expertise to accelerate its growth trajectory.

Content source: Media reports