Private equity firm Gateway Partners has acquired a minority stake in Lancashire-headquartered supply chain logistions firm TVS SCS for $10m.

The deal is the second largest private equity investment in TVS SCS after CDPQ, one of North America’s largest pension fund managers, which invested $155 million in TVS SCS in 2016.

The firm, part of the $8.5 bn TVS group, is headquartered in Chorley and has offices in Europe, North America, Asia and India.

R Dinesh, Managing Director of TVS Supply Chain Solutions, said, “We are glad to have Gateway Partners as a strategic investor. TVS SCS has been growing significantly both in domestic and international operations thanks to our customer focused approach and digital capabilities that we acquired over the years.

“I am confident Gateway as an investment partner will add value and help TVS SCS to expand its footprint and grow.”

Anand Kumar, Co-Founder and Partner, Gateway Partners, added: “We look forward to working closely with TVS SCS and supporting its next stage of growth. As India’s largest supply chain company with a global footprint, TVS SCS is well-positioned to continue providing end-to-end solutions for international and Indian customers.

"Led by a world class team and backed by a strong shareholder group, we believe the company is uniquely placed to leverage the growing global demand for value-added supply chain management services.”