Stellar Value Chain Solutions, a third party supply chain and logistics company serving consumption driven sectors in India, today announced the acquisition of a majority stake in Kelvin Cold Chain (“Kelvin”), a leading integrated cold chain logistics business. Ambit Pragma will retain a minority stake in Kelvin.
According to the company spokesman, this acquisition will kick-start Stellar’s foray in the Cold Chain space and build its position as an end to end value chain transformation company
Stellar Value Chain Solutions has an investment of up to USD 125 million from global private equity firm Warburg Pincus. Kelvin Cold Chain is a portfolio company of Ambit Pragma, a SME private equity fund.
Commenting on the deal, Anshuman Singh, Founder, Managing Director and CEO of Stellar Value Chain said“The investment into Kelvin augurs well for our mission of bringing about a value chain transformation for consumer businesses in India. Kelvin is a well governed and mid-sized cold chain business which complements well with our pan India Contract Logistics and Transportation play. We will significantly augment Kelvin’s management, implement new technology tools and raise the quality of product handling in the months ahead thereby unlocking significant value for customers. Following this investment, Stellar will seek to make further acquisitions in the third party logistics sector in India.”
Commenting further, Rajeev Agarwal, Ambit Pragma’s Managing Partner, said, “Anshuman’s understanding of the cold chain opportunity and his vision for the business compliments Kelvin’s growth strategy. We are delighted with this partnership and look forward to Anshuman’s leadership as Kelvin expands it’s footprint in cold chain logistics.”