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Morgan Stanley India Infrastructure has made an investment of ₹180 crore to acquire a stake in Leading Enterprise in Advanced Pooling (LEAP).
Founded by Sunu Mathew in 2013, LEAP is a pallet pooling company with an asset pool of approximately 4 million units including pallets, foldable large containers, crates and utility boxes.
LEAP primarily caters to fast moving consumer goods (FMCG), consumer durables, beverages, e-commerce, retail, auto and auto-component manufacturing sectors.
The timber pallets and plastic utility boxes are used by companies in FMCG and beverages sectors. Automotive OEMs and component suppliers use FLCs and crates. LEAP provides these assets on lease and helps in integrating the supply chain across suppliers, manufacturers, 3PL service providers and retailers. LEAP caters to 600+ customers and 7000+ touch-points from a pan-India network of 18 warehouses.
“We are very excited to partner with a dynamic management team for the next phase of growth of this company. Given its unique business model and the criticality of its assets, for both storage and transportation, LEAP has been able to navigate the Covid-19 situation successfully and has emerged stronger with an increased market share. In terms of market opportunity, India is hugely under-penetrated in terms of palletisation. With our investment, we expect that LEAP will further consolidate its market-leading position,” said Shyamsundar Gurumoorthy, Managing Director and Co-Head of Morgan Stanley India Infrastructure.
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