Apollo LogiSolutions Ltd (ASL) provides end to end integrated logistics services through its strong global network spread across multiple locations
Apollo LogiSolutions Ltd, Mumbai-based Integrated logistics solutions provider is in talks with private equity (PE) investors to raise $46m to fund its expansion plans, according to two people close to the matter.
The firm has reached out to PE firms which includes Hong Kong-based PE firm ADV Partners, for the potential investment, one of the two person cited above said.
The company was established in 2009, is an Integrated Logistics solutions provider and a 90% subsidiary of Apollo International Limited (AIL). ALS has emerged as a significant contributor to the growth of AIL, led by Raaja Kanwar.
The funds would be utilized to expand its present warehousing space in the domestic turf and also to acquire companies in the same space.
ALS has combined forces with global partners for acquiring global reach, cutting edge technology and operational excellence through best practices. This enables the company to emerge as a comprehensive solutions provider in the fragmented logistics industry.
In response to an emailed query, a spokesperson for ALS confirmed that the company is looking to raise more than Rs300 crore but declined to comment on the investor “since the investment is yet to happen. A separate mail sent to ADV’s spokesperson was not answered.
In 2012, ALS entered into a joint venture with a leading German logistics company, FIEGE, to form APOLLO FIEGE Integrated Logistics (AFIL).
In 2013, it acquired a Chennai-based logistics company and also marked its foray into the business of inland container depots through a joint venture with India Glycols Ltd.
In 2014, it acquired a controlling stake in Clarion Shipping, a a leading UAE-based company with a presence in more than 20 countries and significant capabilities in the areas of Freight Forwarding, Warehousing and allied businesses.
Last year, it also signed an agreement with Singapore-based Pacific International Lines (PIL) to explore logistics opportunities in India.