New Delhi, Sept 24, 2014 – Apollo LogiSolutions Ltd. (ALS), promoted by Raaja Kanwar, has acquired controlling stake in UAE based Clarion Shipping Services LLC valued at Rs. 400 Crores. ALS is a logistics arm of Apollo International Limited, a diversification initiative of the Apollo Group promoted by Onkar Kanwar. This acquisition will not only help ALS leverage Clarion`s global footprint at the Middle East, Africa and South East Asia, but also provide access to global clients across segments.
Mr. Raaja Kanwar, Managing Director and Vice Chairman, AIL outlined the acquisition as a significant milestoneinthe company’s growth strategy. “We are confident that Clarion’s strong footprint in the logistics domain will enhance our global network in the integrated logistics space. Currently both Clarion and ALS are working towards identifying common lines of business. We hope that the resultant synergies and combined global network of this partnership will allow us to provide best in class service throughout the value chain of logistics business to our valued customers,” he added.
Mr. Aniyan Kutty, Managing Director, Clarion Shipping Services LLC, said “We are excited to work with the team at ALS. We at Clarion have a keen focus on accelerated growth. This investment by ALS will allow us to pursue a strategy of enhancing our capabilities and expanding our international presence, while simultaneously leveraging ALS’s customer base and process methodologies.”
With this acquisition, ALS will get access to over 20 countries where Clarion has a strong presence and will also extend ALS’s footprint to nearly 100 countries across the globe. As a part of this acquisition, Clarion will create an integration of all the Clarion processes with Apollo.
The Clarion acquisition follows ALS’s acquisition in year 2013 of a Chennai based logistics company located close to the Chennai and Ennore ports.