Investcorp, the Bahrain-based global alternative investment firm, completed the acquisition of 20Cube 3PL Solutions, a digital-first contract logistics platform in India, for approximately 5 billion Indian rupees, equivalent to $58 million.
This move marks Investcorp’s strategic initiative to enhance its involvement in India’s burgeoning logistics sector, which is experiencing significant growth due to increased manufacturing activity.
Capabilities of 20Cube
The investment aims to bolster the capabilities of 20Cube, supporting its founders in broadening the company’s service offerings to align with rising market demands.
Alongside the initial acquisition, Investcorp and 20Cube have outlined plans to invest an additional 5 billion to 7.5 billion Indian rupees (c$78 million) towards acquiring complementary contract logistics businesses, indicating a robust growth strategy.
International Freight Forwarding Operations
This transaction involves the carve-out of the India contract logistics segment from Singapore-based 20Cube Logistics, which will shift its focus back to its core international freight forwarding operations.
The Indian branch currently oversees over 7 million square feet of warehousing space, catering to major enterprise clients across diverse sectors, including consumer durables, chemicals, automotive components and engineering goods.
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