Published On:August 5 2008
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Tuscan Ventures picks up 12.45 % stake in LCL Logistix
Kolkata: Tuscan Ventures, an investment company focused on making private equity placements in existing organisations as well as greenfield projects, has concluded an investment in LCL Logistix(formerly LCL Agencies Pvt Ltd), a major freight forwarder and 3PL service provider, according to company sources.
The investment, which gives Tuscan Ventures a 12.45 per cent ownership in LCL Logistix for an undisclosed sum, comes in the background of burgeoning trade to and from India and the need for an efficient management of supply chain.
Headquartered in Mumbai, LCL Logistix’s core activity is offering tailor-made containerised logistics solutions to various global destinations. In addition, it offers fixed weekly LCL (less than container load) and project cargo services to all major corridors and operates multiple warehouses at Mumbai, New Delhi, Nagpur and Haldia and a container freight station (CFS), owned by the Central Warehousing Corporation, at Adalaj at Ahmedabad.
The company recently launched its modern CFS with an area of 80,000 sq metres at Pipavav and is planning to open more such outfits.