FM Logistic is in the fields of warehousing, transport and packing. As an independent and family-run Group, it is one of the leaders in the consumer goods, distribution, perfume/cosmetics, manufacturing and health markets. Present in Asia, Eastern Europe, Central Europe and Latin America with 19 500 staff members, FM Logistic’s revenue was 1.066 billion euros at 31 March 2015, up by 10.2 % (at constant rates) on the previous financial year.
“Only about 8-10% of the market is catered to by organized players like Spear. While the Indian market is not yet as organized and sophisticated as some of the global counterparts, we are pleased to have witnessed Spear’s growth over the years. I am confident that FM Logistics global expertise in this domain will help Spear move to the next orbit of growth,” said Mangesh Pathak, Partner, Ambit Pragma.
Ambit Pragma is a SME private equity fund focused on investing in Logistics, Healthcare, Media and Entertainment and FMCG Sectors.In India the contract logistics industry is a $ 2.5-3.0 billion market. The organised market is estimated to be growing at 15-20% annually
“We have benefitted immensely from the strategic and operational inputs received from Ambit Pragma over the years. Our next stage of growth will benefit immensely from this partnership with FM Logistic, and with the advantage of their global expertise we are confident of becoming a market leader in the Indian organized logistics space,” said Gautam Dembla, CEO, Spear Logistics.
Source: The Economic Times