Sitics Logistic Solutions Pvt. Ltd. has acquired the Delhi-based third-party logistics start-up Udgam Logistics in a deal mediated by BackWater Capital Advisors LLP in the past week. It is the second start-up acquisition by the emerging leader in the logistics industry after it acquired Quifers, a promising logistics tech startup.
Udgam Logistics Pvt Ltd is a startup engaged in providing logistics and supply chain solutions to customers in the food, near-food, pharmaceutical and retail industries. Udgam came into existence in June 2016 and started its first operation in April 2017. Udgam was started by two industry professionals, Mr Rahul Mathur and Mr Shailendra Singh. Growth as an organisation has been the motto of both Sitics and Udgam logistics. The similarities in vision have played a major role in enabling the takeover.
“Udgam’s merger with Sitics would enable it to emerge as an integrated player with wide reach, offering unique and innovative solutions in the logistics domain especially concerning temperature-controlled supply chains. Sitics presence and expertise in logistics tech, e-commerce, warehousing, C&F operations spanning across South-East Asia, Europe, Australia, and the US unfold many opportunities to develop this vertical with cutting edge and tech-driven solutions resulting in superior service and quality to the customers, both nationally and at a global level. The combined strength of both organizations will go a long way to provide profound value to clients in the Pharmaceutical, QSR, Agriculture, Dairy, F&V, and Marine sectors,” said Rahul Mathur, Founder, and Director of Udgam Logistics.
Sitics logistics was founded in 2002 by A.M.Sikander and Haridas.T. The company was registered in 2007 with a vision of providing services with the highest ethical values to customers and employees. It soon evolved into a full-fledged logistics organization as the founders were providing services to a few corporates including MNC’s and saw the huge potential of Logistics as a service, as there was a dearth of quality services being offered. From being a small organization it quickly grew into a mid-size company as new customers were added.
Today Sitics offers a full-service bouquet of 3 PL and has become one of the largest logistics companies in India offering the entire supply chain solutions. Sitics has also Scaled up services first in South India and later Pan-India as well. Sitics then went on to establish a subsidiary in Malaysia and found a JV partner for Thailand. With the acquisition of Udgam, Sitics has made its way into the $25 million worth US Logistics market as well.
“In continuing with our vision of building capabilities across the logistics value chain, this acquisition will help Sitics target a new segment and provide tremendous value to our clients. Sectors like Pharma, QSR, HORECA, Agriculture, Dairy, and Marine are rapidly growing and in need of a world-class temperature-controlled supply chain which we will be able to provide through Udgamks expertise, experience and processes. Combined with our technology platform, it has equipped us to offer cutting edge unique solutions that will build a market-leading presence in the segment,” said Sikander A M, Founder and CEO of Sitics logistics.