Lineage Logistics, LLC, has acquired Turvo Inc., a leading provider of supply chain management, collaboration, and visibility software, including its India subsidiary for approximately ₹1,731.8 crores ($208 million).
JSA advised Lineage Logistics on the India leg of the acquisition. The transaction also involved migration of employees of target into a new SAR (stock appreciation rights) plan.
The transaction team consisted of Manvinder Singh (Lead Partner), Anant Mishra (Partner), Parnik Saxena (Associate) and Pragya Pandey (Associate).
They were supported by the Tax team led by Kumarmanglam Vijay (Partner).
Lineage Logistics, LLC is the world’s largest temperature-controlled industrial REIT and logistics solutions provider.
The acquisition was an extension of the two companies’ long-standing partnership which includes a previous investment in Turvo by Lineage. With Lineage’s backing, Turvo is intended to continue to focus on its customers, accelerate innovation in its technology offering and expand into new and adjacent markets under its own brand as a wholly owned subsidiary of Lineage.