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Warburg Pincus invests $100 Million in NDR group
By siliconindia
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India: Warburg Pincus is investing $100 Million for a minority stake in Continental Warehousing Corporation Nava Seva(CWCNSL), a flagship company of NDR Group, reports Deeshesh Chheda for Deal Curry.
The funds raised will be used for expansion and strengthen its position as an end-to-end logistics solutions provider by developing rail-linked inland container depots at various locations across the country.
NDR Group provides logistics solutions ranging from freight forwarding, C and F, transportation and distribution, dry and cold storage, to container freight station, operation of jetties and coastal movement of cargo.
CWCNSL which commenced on 2005 runs container freight stations (CFSs) at several locations such as Jawaharlal Nehru port, Chennai, Tuticorin and Indore.
In addition, CWCNSL also offers warehouse management solutions to leading retailers, telecom service providers and consumer durables industries through its wholly owned subsidiary Kaveri Warehousing Private Limited. The company also provides 3PL services to many of the leading fertilizer and cement companies.
Continental Warehousing Corporation had raised $16 million from Aureos India Fund and ePlant Ventures in 2009. As part of the deal, Balaji Srinivas of Aureos and Chandrasekar Kandasamy of ePlanet joined CWCNSL's Board.