An SME focused private equity fund Ambit Pragma has sold its majority stake in Pune based Spear Logistics to French multinational FM logistics for an undisclosed amount. Through the acquisition, FM logistics aims to bring international practices, advanced working tools and latest technologies to the domestic market. No disclosure on stake sale or how much money was invested was made. Since its inception in 2001, Spear operates in the contract logistics segment, offering long-term inventory and warehousing management business. Investment bank Ambit Capital advised the Pune company in the deal.
This post originally appeared at NRS Advisors.