Scripting a survival
Zee’s founding family plots a twist in the tale and stays in control
Logistics services provider Om Logistics Ltd (OLL) has acquired Transafe Services Limited, a JV of Miniratna PSU Balmer Lawrie, for enterprise valuation of ₹70 crore in a move that would allow it to offer a wide range of services to the untapped market, a release said on Monday.
With this buyout, Om Logistics is set to further expand its reach and penetration into the manufacturing and logistics sector, the company said.
A Delhi-based full-service supply chain management company, Om Logistics with ₹1,500 crore turnover, has presence in over 2,000 locations spanning 85 countries and over 20 million sq ft of warehousing space.
Also read: Konkan Railway, Om Logistics eye RORO services on freight corridor
Balmer Lawrie is a market leader in steel barrels, industrial greases and speciality lubricants, corporate travel and logistics services, among others.
Om Logistics said its existing strength in the industry and the acquisition of Transafe will allow it to offer its wide array of services to untapped markets and provide customised and flexible storage solutions. “Transafe Services is the perfect addition to Om Logistics and this acquisition will allow us to enhance our capacities and capabilities to reach out to a wider range of customers and serve them better,” said Raghav Singhal, Director, Om Group.
With this incorporation, along with various other strategic developments, Om Logistics is striving to become a holistic destination of diversified services for all its international and domestic customers, he said, adding that the company will continue to ensure similar strategic investments in future to consolidate supply chain offerings to customers.
“This acquisition highlights our growth goals in the industry and will certainly help to achieve the position of one of the strongest players in the international logistics scenario,” said Akash Bansal, Country Head, Om Logistics.
The company, post this deal, will be in a position to support global networks to provide timely and cost-efficient solutions to customers at large, Bansal said.
“We are also investing significantly in new adaptive technologies to compete proactively with dynamic supply chain requirements,” he added.