KKR, investing on behalf of its infrastructure arm, has agreed to acquire a majority stake in LEAP, a pallet-pooling platform in India.
 
The value of the transaction was not disclosed. Indian media reports said the transaction gave LEAP an enterprise value of INR3bn rupees (€34m).
  
LEAP operates a network of 21 warehouses and more than 3,500 customer locations, and manages more than 6m total assets, including pallets and containers, across India for its customers.
 
Ami Momaya, director, infrastructure, at KKR, described LEAP as “a standout leader” in India’s pallet pooling industry. LEAP would play an important role in driving India’s continued modernisation and growth, he said.
 
“LEAP is supporting this shift by providing the critical assets needed for the manufacturing, storage and movement of goods in supply chains and, in so doing, helps companies to be better equipped to improve the environmental impact of their operations.”
 
Sunu Mathew, founder and managing director at LEAP India, said: “We look to tap into KKR’s global expertise to accelerate our growth and deliver impactful solutions to our clients.”
 
Mathew, who set up the company in 2013, remains a shareholder in the company which, in 2021, reportedly attracted an investment of $25m (€22.7m) from Morgan Stanley.

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