TVS Supply Chain Solutions on Tuesday said Japan-based Mitsubishi Corporation has made investments for an ‘undisclosed sum’, picking up minority stakes in the company.
The investment in TVS Group company by Mitsubishi Corporation is through a secondary market transaction allowing Tata Opportunities Fund to secure a ‘partial exit,’ a company statement said.
The Tata Opportunities Fund which came on board as a minority partner in TVS in 2015, has made multiple rounds of further investments in TVS Supply Chain Solutions to further its growth.
With the investment by Mitsubishi Corporation, Tata Opportunities Fund would continue to hold a ‘residual stake’ besides remaining a ‘key strategic investment partner’ for TVSSupply Chain Solutions.
‘I am delighted to welcome Mitsubishi Corporation.
TVS SCS has successfully pivoted into new segments and addressed opportunities arising out of COVID through customer-focused offerings…,’ company managing director R Dinesh said.
‘Our innovative solutions and differentiated approach make TVS Supply Chain Solutions a preferred supply chain partner to our clients. Through our partnership with Mitsubishi Corporation, we aim to accelerate our growth in the years to come,’ he added.
The latest round of investment (by Mitsubishi Corporation) would further strengthen TVS Supply Chain Solutions’ leadership position to a much larger footprint, extending the complete suite of digital supply chain solutions and value added services, the statement said.
(PTI)
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