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KKR acquires majority stake in LEAP India, deal value undisclosed
Startup News FYI
ยท
2y ago
Medial
Private equity firm KKR has acquired a majority stake in Leap India, a logistics solutions provider. The exact deal value remains undisclosed. This strategic investment by KKR is expected to fuel Leap India's expansion efforts and enhance its position in the logistics industry. The acquisition reflects KKR's interest in the growing logistics sector.
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KKR-controlled LEAP India acquires supply chain firm CHEP India
VCCircle
ยท
7m ago
Medial
LEAP India, backed by private equity firm KKR, has acquired CHEP India Pvt. Ltd, a supply chain company. The acquisition, whose financial details were undisclosed, includes CHEP's assets, customer base, and team. This move aims to expand LEAP's services in FMCG, automotive, retail, and e-commerce sectors. LEAP India's founder, Sunu Mathew, stated the integration would drive sustainable growth and enhance customer experiences. LEAP India now operates 33 warehouses with over 11 million assets and 6,000 customer touchpoints.
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KKR to double down on LEAP India as company raises $63 mn
VCCircle
ยท
7m ago
Medial
Private equity firm KKR is set to increase its investment in LEAP India Pvt Ltd, a storage and supply chain services provider. KKR is investing INR 333 crore ($62.7 million) in LEAP India's latest funding round, while other investors include Sixth Sense, First Bridge, and Madhurima International. LEAP India specializes in packaging solutions that improve storage and product movement across supply chains. The company has seen notable revenue growth and improved operating profit and margin in recent years. KKR acquired an 80.63% stake in LEAP India in August 2023.
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KKR to acquire Kerala hospital in year's third India healthcare deal
VCCircle
ยท
1y ago
Medial
Private equity firm KKR has announced its acquisition of a majority stake in Kerala-based Baby Memorial Hospital (BMH), marking its third healthcare deal in India this year. Through its investment, KKR aims to support the expansion of BMH's network of hospitals across India. The financial terms of the transaction were not disclosed. KKR has previously invested in the Indian healthcare sector, including acquiring a minority stake in Infinx Services Pvt Ltd and purchasing medical devices maker Healthium Medtech Ltd. The deal underscores the growing interest of global funds in India's healthcare sector.
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KKR-owned Leap India converts to public company, appoints independent directors
Entrackr
ยท
16d ago
Medial
Exclusive: KKR-owned Leap India converts to public company, appoints independent directors Logistics solutions startup Leap India is all set to convert into a public company, signalling plans to file for an initial public offer (IPO). LEAP India was reportedly eyeing a Rs 1,000 crore IPO in 2022, but the plans were later delayed after the entity was acquired by KKR. The board of Leap India passed a resolution to change its status to a public company and rename it from โLeap India Private Limitedโ to โLeap India Limitedโ, as per its regulatory filing accessed from Registrar of Companies (RoC). In line with regulatory requirements, the company has also appointed Harinarayanan Nair and Sanjiv Gupta as independent directors to strengthen its board and governance structure as it transitions into a listed entity. With over 30 years of experience in the logistics sector, Nair has held key positions at multiple companies including Wipro Pari, Signode, and ITW India. Gupta, Founder and Chairman of Bluwheelz, has also held leadership roles at Coca-Cola and SpiceJet. Founded in 2013 by Sunu Mathew, Leap India specializes in supply chain solutions, providing services such as equipment pooling, packaging, inventory management, transportation, and repair and maintenance. It caters to clients across industries including e-commerce, consumer durables, beverages, and automotive. According to startup data intelligence platform TheKredible, Leap India has raised over $180 million to date including a $63 million round raised in December 2024 led by KKR with the participation of Sixth Sense Ventures, FirstBridge India and others at a valuation of $600 million. KKR holds a controlling stake of 78.64% in the Mumbai-based firm. The global investment firm acquired the majority stake in Leap India in 2023 through a combination of primary and secondary investments. In January this year, Leap India acquired supply chain company CHEP India Private Limited (CIPL). The acquisition involved the transfer of CIPLโs assets, customer base, and team to Leap India. For the fiscal year ended March 2024, Leap India reported a 44% increase in operating income to Rs 365 crore from Rs 253 crore in the previous fiscal. Its profit also surged 4X to Rs 37 crore during the same period.
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Bottomline: KKR-controlled LEAP India doubles revenue growth in FY24, improves margins
VCCircle
ยท
10m ago
Medial
- LEAP India, majority owned by KKR, reported a significant revenue growth of 44.5% in the financial year ending March 2024. - The company is a storage and supply chain services provider, specializing in B2B solutions. - LEAP India also managed to improve its operating profit and operating margin during this period. - Sunu Mathew, founder and managing director of LEAP India, played a crucial role in driving the company's success. - The positive growth and improved margins showcase the company's ability to effectively meet the demands of its clients and optimize its operations.
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KKR-owned Leap India profit surges 4X in FY24
Entrackr
ยท
5m ago
Medial
Fintrackr All Stories KKR-owned Leap India profit surges 4X in FY24 Logistics solutions startup Leap India recorded a 44% year-on-year revenue growth for the fiscal year ending March 2024. Moreover, the Mumbai-based company's profits surged 4X during the same period. Logistics solutions startup Leap India secured $63 million in funding from KKR in December last year, driven by a 44% year-on-year revenue growth for the fiscal year ending March 2024. Moreover, the Mumbai-based company's profits surged 4X during the same period. Leap Indiaโs revenue from operations grew to Rs 365 crore in FY24 from Rs 253 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. Leap India provides supply chain solutions, including equipment pooling, packaging, inventory management, transportation, and maintenance. Serving e-commerce, consumer durables, beverages, and automotive industries, it operates 25 warehouses and 22 manufacturing units. Income from services contributed 95.6% of total revenue, which grew 43.6% to Rs 349 crore in FY24. The remaining revenue came from the sale of pallets and forklifts. The company also earned Rs 7 crore, bringing total income to Rs 372 crore in FY24 from Rs 258 crore in FY23. For an end-to-end supply chain company, the depreciation and finance costs formed 50.5% of the overall expenditure which cumulatively increased to Rs 164 crore in FY24. Its employee benefits grew by 93.8% to Rs 62 crore in the last fiscal year. The legal, freight, travel, and other overheads took the total expenditure up by 31% to Rs 325 crore in FY24 from Rs 248 crore in FY23. The 44% scale and controlled expenditure led KKR-backed firm to spike its profits by 4.1X to Rs 37 crore in FY24, compared to Rs 9 crore in FY23. On a unit level, it spent Rs 0.89 to earn a rupee of opening revenue. Its ROCE and EBITDA margins stood at 8.26% and 56.72% respectively. Last year, private equity firm KKR invested in Leap India, acquiring a majority stake through a mix of primary and secondary investments. That infusion reportedly gave TVS Capital, North Heaven, Mayfield, Morgan Stanley, and other early backers a complete exit. In 2021, Morgan Stanley invested $25 million in the firm. Leap India has raised over $180 million to date and was valued at $600 million. According to the filing, KKR controls around 78.64% stake in Leap India while Sixth Sense, First Bridge, and Madhurima International command 1.38%, 1.19%, and 0.99%, respectively.
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General Atlantic, KKR, EQT eye PE deals; FirstCry, Anthem in IPO news
VCCircle
ยท
1y ago
Medial
General Atlantic and KKR are competing for a majority stake in Asian Institute of Medical Sciences (AIMS), with the deal potentially valuing the hospital chain at $179 million. Alongside this, private equity firms EQT, General Atlantic, and KKR are also exploring deals in the Indian market. In IPO news, FirstCry and Anthem are reported to be considering initial public offerings (IPOs).
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CVC Capital-controlled Healthcare Global acquires cancer hospital
VCCircle
ยท
1y ago
Medial
CVC Capital-backed healthcare player, Healthcare Global Enterprises Ltd, has acquired a majority stake in Vizag Hospital, including Mahatma Gandhi Cancer Hospital and Research Institute, for an enterprise value of around $50 million. The acquisition will initially give Healthcare Global a 51% stake, followed by an additional 34% over the next 18 months. The hospital, which has 196 beds, offers a range of cancer treatments and has served over 1.5 lakh patients. The deal will enable Healthcare Global to strengthen its market position and unlock capacities.
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Brookfield moves a step closer for another big ticket asset sale in India
VCCircle
ยท
8m ago
Medial
Canadian alternative asset firm Brookfield Asset Management Inc is nearing a deal to sell a portion of its green energy assets in India. The company recently acquired a majority stake in Tamil Nadu-based Leap Green Energy and is now looking to divest some of its renewable energy assets in the country. This move comes as part of Brookfield's ongoing strategy to optimize its portfolio and seek opportunities for growth in the Indian market.
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Brookfield adds to India renewables portfolio with acquisition of Leap Green
VCCircle
ยท
1y ago
Medial
Canada's Brookfield Asset Management has acquired a majority stake in Leap Green Energy, a renewable power firm based in Tamil Nadu, India. Brookfield will invest $200m upfront and has an option to invest an additional $350m to support Leap Green's growth. The company plans to increase its capacity to more than 3 GW in the next four to five years. Brookfield has previously invested in India's clean energy sector, including a $360m stake in renewable energy firm CleanMax and $1bn in Avaada Group.
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