Sitics Logistic Solutions Private Limited, a technology-based supply chain company based in Palakkad, has acquired Udgam Logistics, a Delhi-based cold chain and distribution start-up, for an undisclosed amount.
This is the second acquisition of Sitics Logistic Solutions, which had acquired, three months ago, Quifers, an innovative technology startup in logistics.
The latest acquisition of Udgam Logistics has propelled Sitics into the global 3PL market value chain to reach new heights. While it places Sitics as one of the only integrated supply chain service providers, it also enters the $ 25 billion cold chain market. Udgam’s market positioning with its cutting-edge temperature-controlled solutions will expand Sitics’ footprint and help it access new markets, not to mention a significant increase in turnover. The combination would open up huge cross-sell and up-sell opportunities for the two companies as a combined entity.
Backwater Capital, a Kochi-based investment advisory firm, acted as advisor to the transaction.
Sikander AM – Founder and CEO, Sitics Logistic Solutions Pvt Ltd said that “this acquisition will help target a new segment and deliver tremendous value to customers. Sectors such as Pharmaceuticals, Fast Food, HORECA, Agriculture, Dairy and Marine are growing rapidly and need a world-class temperature-controlled supply chain that we will be able to to provide thanks to the expertise, experience and processes of Udgam. Combined with our technology platform, it has enabled us to offer unique cutting-edge solutions that will build a market-leading presence in the segment. ”
Rahul Mathur, Founder and Director of Udgam Logistics, said the merger would allow it to emerge as an integrated player with a wide reach, offering unique and innovative solutions in the field of logistics, especially with regard to temperature-controlled supply chains. Sitics’ presence and expertise in logistics technologies, e-commerce, warehousing, C&F operations spanning South East Asia, Europe, Australia and the United States provide ample opportunities for develop this vertical with cutting-edge and technology-driven solutions resulting in superior service and quality to customers, both nationally and globally.