Pirojshaw Sarkari, CEO, Mahindra Logistics Ltd; Parag Shah, Managing Partner, Mahindra Partners; Shamsudeen Ahmed, Chairman, LORDS Freight (India) Pvt. Ltd.
August 19, 2014, Mumbai: Mahindra Logistics Ltd. (MLL), part of India’s USD 16.5 billion Mahindra Group, today announced that it has acquired a majority stake in LORDS Freight (India) Pvt. Ltd (LORDS). This will provide a significant boost to the company’s expansion plans.
“Our vision is to be ‘India’s leading, most preferred integrated logistics service provider’ and international freight forwarding is an essential component of this vision. With this acquisition, MLL’s service portfolio will be considerably enhanced. LORDS presented an ideal opportunity for us given its proven track record of growth, strong focus on quality and the fact that it has a strong cultural fit with Mahindra Logistics. This is our maiden investment, and will considerably add to the value proposition we offer our customers,” said Pirojshaw Sarkari, CEO, Mahindra Logistics Ltd.
"Since our partnership with Kedaara Capital earlier this year, we see a very clear path to an IPO for Mahindra Logistics. It is our goal to grow to INR 6,000 crores and this is the first of several in-organic steps we have planned. Through a turnaround process, we have made MLL into one of the ten most profitable companies within the Mahindra Group,” said Parag Shah, Managing Partner, Mahindra Partners.
“We are very excited to work with the team at Mahindra Logistics. We at LORDS have a keen focus on accelerated growth. This investment by MLL will allow us to pursue a strategy of enhancing our capabilities and expanding our international presence, while simultaneously leveraging MLL’s customer base and process methodologies. LORDS has always had a keen focus on the critical attributes of technology, talent and a global network since its inception; greatly encouraged by a discerning customer base” said Shamsudeen Ahmed, Chairman, LORDS Freight (India) Pvt. Ltd. who has been recognized by Forbes Middle East as one of the “Top Indian Leaders In The Arab World, 2014.”
Mahindra Logistics Limited (MLL), a subsidiary of Mahindra & Mahindra Ltd., is one of India’s leading Third Party Logistics (3PL) service providers. Over the past four years, MLL has grown rapidly by diversifying its industry segment focus, developing an integrated supply chain services portfolio, and unique people transport solutions.
In 2009, the Mahindra Group identified logistics as a key focus area, and since then MLL has been part of the Mahindra Partners division, the US$ 900 million quasi private equity division of the Mahindra Group. Mahindra Partners exemplifies how the Mahindra Group creates value by nurturing and building new businesses of the future.
LORDS, specializes in international logistics solutions, and is based out of Mumbai with a presence in most major cities in India. Founded in 2011 by a group of Industry professionals, LORDS brings together some of the best minds in the Indian logistics industry, with the executive management team having over 100 years of cumulative experience in various aspects of the logistics business including freight forwarding, customs brokerage, transportation and warehousing.