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Warburg Pincus to pump $100 million in Continental Warehousing

Warburg Pincus to pump $100 million in Continental Warehousing
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First Published: Mon, Apr 11 2011. 04 16 PM IST
Updated: Mon, Apr 11 2011. 04 16 PM IST
Mumbai: Warburg Pincus India Pvt Ltd, the private equity firm which has deployed $2.5 billion in India, on Monday invested $100 million in Chennai-based logistics firm Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL), a subsidiary of NDR Group.
The NDR Group currently has one of the largest warehousing network in the private sector in the country, encompassing 6.5 million sq. ft. of storage area in 70 strategic locations across the country.
The investment by Warburg Pincus will be used to fund the expansion and strengthen CWCNSL’s position as an end-to-end logistics solutions provider by developing rail-linked inland container depots at various locations across the country.
Some existing minority investors will also divest part of their ownership stake to Warburg Pincus as part of this transaction.
“Their support will enable us to achieve our vision of further consolidating our leadership position as a ‘one-stop’ logistic facilities and solutions provider to clients across sectors in India,” said N. Amrutesh Reddy, executive director, CWCNSL.
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First Published: Mon, Apr 11 2011. 04 16 PM IST