Global investment firm KKR has signed definitive agreements to acquire a majority stake in LEAP India, a prominent pallet pooling platform in the country.
KKR is making this investment as part of its Asia infrastructure strategy. The acquisition of LEAP marks KKR’s latest infrastructure investment in India. Past transactions in the sector by KKR have included Serentica Renewables, a decarbonization platform that seeks to provide complex clean energy solutions for energy-intensive, hard-to-abate industries; Hero Future Energies, a leading independent power producer and the renewable energy arm of the Hero Group; Highways Infrastructure Trust, a roads infrastructure investment trust (InvIT); Virescent Infrastructure, a renewable energy platform in India; and IndiGrid, a leading infrastructure InvIT.
The deal is expected to be completed by Q3 2023, subject to standard closing conditions. Specific financial details remain undisclosed.
Founded in 2013 by Sunu Mathew, LEAP India offers innovative supply chain solutions, including equipment pooling, inventory management, transportation, and repair services, catering to a diverse customer base across various industries such as e-commerce, consumer durables, beverages, FMCG, and automotive. The company currently operates 21 warehouses and serves over 3,500 customer locations, managing more than 6 million assets like pallets and containers nationwide.
This strategic investment aligns with the ongoing push for modernizing and optimizing India’s supply chains and logistics services. Additionally, sustainable logistics is expected to be a key driver of India’s economic growth in the coming decades. As local businesses seek to streamline logistics and focus on core operations, LEAP’s high-quality and efficient supply chain solutions are poised to meet this demand.
Ami Momaya, Director of Infrastructure at KKR, expressed enthusiasm for the investment, highlighting LEAP’s vital role in supporting India’s modernization and growth. The acquisition further complements KKR’s existing Asia infrastructure strategy, adding to their previous investments in renewable energy and roads infrastructure in India.