Marseille, France: Ceva Logistics has bought the majority of Mumbai-based Stellar Value Chain
Solutions from an affiliate of private equity firm Warburg Pincus and other shareholders.
CEVA will acquire approximately 2m square metres of space in 70 sites with 8,000 full-time and temporary employees, The Stellar acquisition will help CEVA diversify its presence in India,
Mathieu Friedberg, chief executive, Ceva, said: “With the addition of Stellar VCS, we will continue our strategic growth with the goal of becoming a top five global logistics player.
“We are expanding into more key market segments and boosting our presence in this strategic country. Stellar has an important network of contract logistics facilities across India and a top roster of customers. Bringing on their expertise and footprint in India is a major step forward for Ceva Logistics.”
Started in 2016 by Anshuman Singh, Stellar Value Chain Solutions in India provides contract logistics. Singh will continue leading the business. “We have built a strong network across India based on our commitment to serving our customers through long-term partnerships. Warburg Pincus has been an extremely valuable and supportive partner in building this company right from its inception and is now passing on the baton to another global giant, CEVA Logistics, to take this company ahead.” Singh said.
“I look forward excitedly to the future with Ceva further supporting our commitment to our customers and allowing them to benefit from Ceva’s global capabilities with our knowledge of India. The shared values of our Stellar associates and those of the Ceva Logistics team will allow for a quick integrationand new, global opportunities for our associates.”
