Mathew looks to tap into KKR’s global expertise to accelerate our growth
KKR is acquiring a majority stake in LEAP India, a leading pallet pooling platform in India, providing a wide range of innovative and high-quality supply chain solutions, including equipment pooling, returnable packaging, inventory management and movement, transportation, and repair and maintenance, to a diversified and large customer base across e-commerce.
Ami Momaya, Director, Infrastructure at KKR, said, “We are pleased to invest in LEAP, a standout leader in India’s pallet pooling industry that will play an important role in driving the country’s continued modernization and growth.
“LEAP is supporting this shift by providing the critical assets needed for the manufacturing, storage, and movement of goods in supply chains and in so doing also helps companies to be better equipped to improve the environmental impact of their operations.
“The Company has grown rapidly since its founding under the leadership of a talented management team, and we look forward to collaborating closely and leveraging our deep infrastructure experience, operational expertise and global networks to help LEAP achieve its next stage of transformation,” Momaya said on 2 Aug 2023.
The investment builds on strong macroeconomic tailwinds in India that include a focus on modernizing, automating, and optimizing efficiencies in supply chains and logistics services, said KKR.
In addition, sustainable logistics is expected to play a critical role in driving India’s rapid economic growth over the next 25 years. As Indian corporations increasingly look to focus on core operations and sustainably streamline logistics arrangements, there is significant opportunity for platforms such as LEAP to provide high-quality and efficient supply chain solutions.
Sunu Mathew, Founder and Managing Director at LEAP India, said, “From Day One, LEAP’s mission has been to provide quality supply chain solutions to support our clients’ needs and contribute to India’s modernization.
“We are proud of our growth and grateful for the support received from our strategic partners and investors, including our first investor Mayfield, that have helped us to scale to where we are today. Going forward, we look to tap into KKR’s global expertise to accelerate our growth and deliver impactful solutions to our clients.”
KKR and LEAP have signed of definitive agreements under which funds managed by KKR will acquire a majority stake in the Company.
Founded in 2013 by Sunu Mathew, LEAP operates a network of 21 warehouses and more than 3,500 customer locations, and manages more than 6 million total assets, including pallets and containers, across India for its customers.
KKR is making this investment as part of its Asia infrastructure strategy. The acquisition of LEAP marks KKR’s latest infrastructure investment in India. Fiinews.com
