Add-on Acquisition • Transportation

Mahindra Logistics Acquires Rivigo

On November 12, 2022, Mahindra Logistics acquired transportation company Rivigo from Warburg Pincus

Acquisition Context
  • This is Mahindra Logistics’ 2nd transaction in the Transportation sector.
  • This is Mahindra Logistics’ 2nd transaction in India.

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M&A Deal Summary

Date November 12, 2022
Target Rivigo
Sector Transportation
Buyer(s) Mahindra Logistics
Sellers(s) Warburg Pincus
Deal Type Add-on Acquisition

Target Company

Rivigo

Gurugram, India
Rivigo is a tech-enabled trucking company that offers full truckload, part truckload and online freight brokerage services to a range of industries, including fast-moving consumer goods, pharmaceuticals and automotive. Rivigo employs a driver-relay model, enabling it to offer lower transit times on long-haul routes. Rivigo was formed in 2014 and is based in Gurugram, India.
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Buyer Overview 1

Buyer

Mahindra Logistics

Mumbai, India

Category Company
Founded 2000
Sector Transportation
Employees3,854
Revenue 61.0B INR (2025)
DESCRIPTION

Mahindra Logistics is a provider of integrated third-party supply chain and people transport solutions to companies across a diverse cross-section of industries. The company provides supply chain solutions to organisations, integrating the right technology, processes, people, and best practices. Mahindra Logistics was founded in 2000 and is based in Mumbai, Maharashtra.


Deal Context for Buyer #
Overall 2 of 2
Sector: Transportation 2 of 2
Type: Add-on Acquisition 2 of 2
Country: India 2 of 2
Year: 2022 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-02 Meru Cabs

Mumbai, India

Meru Cabs provides metered radio taxi services in Mumbai, Delhi, Hyderabad, and Bengaluru. Meru with 5,000+ cabs is the major taxi company of its kind in India and the 3rd largest in the world. Meru Cabs was founded in 2000 and is based in Mumbai, Maharashtra.

Buy $15M

Seller Profile 1

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


Deal Context for Seller #
Overall 240 of 265
Sector: Transportation 7 of 10
Type: Add-on Acquisition 82 of 97
Country: India 19 of 23
Year: 2022 12 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 CityMD

New York, New York, United States

CityMD is an urgent care provider founded by a passionate group of emergency medicine physicians, CityMD's mission is to serve its communities by providing quality medical care through convenient access and an exceptional experience. The company's unwavering commitment to treating everyone with respect and genuine kindness while offering exceptional services and a cost-effective alternative to the ER. CityMD was founded in 2010 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-15 Fusion Finance

Gurugram, India

Fusion Finance is a microfinance institution that provides small-ticket unsecured loans to women in rural and semi-urban parts of India, largely towards income-generating activities. Fusion Finance was founded in 1994 and is based in Gurugram, Haryana.

Sell -