Global logistics and supply chain major CEVA Logistics has entered into an agreement with an affiliate of private equity firm Warburg Pincus and other entities to acquire 96% stake in tech-driven third-party warehouse and distribution service provider Stellar Value Chain Solutions.
Of the total 96% stake, Warburg Pincus is selling its entire over 90% holding, while balance is being picked up from other entities.
Post-acquisition, Stellar Value Chain Solutions will become a part of the third largest company in the world in contract logistics. The France-based company is part of the $75 billion CMA CGM Group, a global shipping and logistics giant.
The acquisition is expected to be completed in the next few weeks. Stellar Value Chain’s founder Anshuman Singh will continue to hold a minority stake and lead the operations as its CEO.
“With the addition of Stellar VCS, we will continue our strategic growth with the goal of becoming a top 5 global logistics player. We are expanding into more key market segments and boosting our presence in this strategic country,” said Mathieu Friedberg, CEO, CEVA Logistics.