Saurasthra Freight eyeing for major acquisition

Canadian investment firm Fairfax owned Saurashtra Freight is looking for strategic acquisitions to consolidate its position in India. The company has plans to invest an amount ranging from INR 50 million to INR 1,000 million in companies in the field of logistics, warehousing, transportation and other relevant sectors associated to freight industry. The organization aims to invest up to INR 3500 million in the next three years to fuel its growth in the industry.

Saurashtra Freight began operations in 2008 and has been the largest Container Freight Station (CFS) operator in Mundra. Speaking on the investment plans, Raghav Agarwalla, Managing Director, Saurashtra Freight said, “We are very optimistic of the logistics sector in India and the untapped growth potential. Being a well-capitalized, debt-free balance sheet along with Fairfax’s backing gives us the edge to consistently invest in sustainable and free cash flow generating businesses. We are one of the few organizations who bring patient capital to the logistics industry.”

In January 2017, Fairfax India Holdings (Fairfax) purchased 51% in the company at a valuation of INR 4000 million.

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