[photopress:logistics_direct_india_1.jpg,full,alignright]Barely four months after acquiring one Chinese logistics company the Indian companuu Direct Logistics India, which is based in Mumbai, is looking to make another purchase. Late last year it bought China-based Shenzhen Dida Logistics for an undisclosed amount. This was the first ever acquisition by an Indian company in the Chinese freight forwarding industry.
Direct Logistics’ financial adviser, Ambit Corporate Finance, is now in talks with a few international and domestic private equity firms arranging funds for the company’s new acquisition.
Sunil Devrani, chief executive and managing director of Direct Logistics, said, ‘We are looking at buying out a supply chain management company in China which will help us in transforming to a complete logistics solution company instead of just freight forwarding firm.’
He intelligently declined to disclose the target company and the prospective investors in Direct Logistics. Sunil Devrani said the fund-raising and acquisition would be concluded in the next three months.