{"id":15932,"date":"2021-08-25T11:42:40","date_gmt":"2021-08-25T11:42:40","guid":{"rendered":"https:\/\/yourchennai.com\/?p=15932"},"modified":"2021-08-25T11:42:40","modified_gmt":"2021-08-25T11:42:40","slug":"samara-capital-and-xponentia-capital-exit-from-spoton-logistics","status":"publish","type":"post","link":"https:\/\/yourchennai.com\/index.php\/2021\/08\/25\/samara-capital-and-xponentia-capital-exit-from-spoton-logistics\/","title":{"rendered":"Samara Capital and Xponentia Capital exit from SpotOn Logistics"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><div>\n<p style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">Samara Capital and Xponentia Capital announced that they have exited their ownership (100% sale to Delhivery Private Limited) in SpotOn Logistics Private Limited (\u201cSpotOn\u201d), the fastest growing express logistics company in the Indian market. Samara and Xponentia had held the investment for a period of 3 years and the investment performance exceeds typical IRR and Money Multiple expectations.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">In the last three years, SpotOn acquired RTS (a supply chain solutions business), setup two new verticals focused on \u201cAir express\u201d and \u201cnon-corporate customers\u201d that significantly expanded the Company\u2019s capabilities &amp; product offerings. As a consequence, Net Sales and EBITDA of SpotOn grew at a CAGR of ~24% and ~30% respectively.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">More importantly, SpotOn demonstrated its capabilities and the strength of its business model in the aftermath of the Covid lockdowns. While SpotOn\u2019s business was severely impacted along with the economy during the lockdowns of H1FY21, the business rebounded sharply and the Company gained market share in H2FY21 on the back of smart execution by Management &amp; financial backing provided by Samara and Xponentia.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">Under the ownership of Xponentia Capital and Samara Capital:<\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">SpotOn continued to improve on its technology, usage of data analytics and build on its service culture both for the express business and the supply chain solutions business.<\/span><\/li>\n<li style=\"text-align: justify;\">SpotOn grew its active customer base by more than 1.5x.<\/li>\n<li style=\"text-align: justify;\">SpotOn created three new verticals\n<ul>\n<li><span style=\"font-family: 'trebuchet ms', sans-serif;\">Non-corporate customer vertical (paymet in advance as compared to corporate customers who enjoy credit) that is growing faster than other verticals &amp; add significantly to margins and profitability.<\/span><\/li>\n<li>Air Express Vertical that allows customers choice of faster delivery &amp;<\/li>\n<li>Supply chain solutions vertical through the RTS acquisition that completes its product offering.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">Even as the Company invested in growth opportunities, SpotOn continued to deliver industry leading returns on capital (ROCE) of &gt;30%.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">Gautam Gode and Abhishek Kabra were the nominee Directors representing Samara Capital on the Board\u00a0of\u00a0SpotOn.\u00a0Gautam\u00a0Gode,\u00a0Managing\u00a0Director\u00a0at\u00a0Samara\u00a0Capital\u00a0said\u00a0\u201cSpotOn\u00a0is\u00a0a\u00a0unique\u00a0player in an otherwise legacy industry \u2013 controlled by PE funds from Day 1 and with a totally professional and best-in-class management. Delhivery has a similar provenance; that\u2019s why we\u2019re happy that SpotOn finds its next home in this new-age\u00a0player.\u201d<\/span><\/p>\n<\/div>\n<p style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">PR Srinivasan and Devinjit Singh were the nominee Directors representing Xponentia Capital on the Board of SpotOn. PR Srinivasan (PRS), Managing Partner at Xponentia Capital said \u201cSpotOn achieved high growth by leveraging technology to set new standards in the industry. After being spun off in early 2012 with revenues of less than INR 12 crores a month, the Company has been able to grow close to INR 1000 crores a year, due to the emphasis on technology &amp; data analytics\u201d.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">Abhik\u00a0Mitra,\u00a0Managing\u00a0Director\u00a0of\u00a0SpotOn\u00a0Logistics\u00a0added,\u00a0\u201cthe\u00a0Company\u2019s\u00a0performance\u00a0was\u00a0enabled by a tightly knit board. The investment performance shows the power of collaboration between well aligned investors; the Samara and Xponentia teams have long history of shared accomplishments dating back to their days as Citigroup\u00a0colleagues\u201d.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: trebuchet ms, sans-serif;\">Strategy Law Partners acted as the legal advisor to Samara Capital, Xponentia Capital and SpotOn Logistics on this transaction.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Samara Capital and Xponentia Capital announced that they have exited their ownership (100% sale to Delhivery Private Limited) in SpotOn Logistics Private Limited (\u201cSpotOn\u201d),<\/p>\n","protected":false},"author":1,"featured_media":15933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,30],"tags":[20610,20609,20606,20608,20607],"class_list":["post-15932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-companies-economy","category-news-business-political-national-realestate","tag-delhivery","tag-exit","tag-samara-capital","tag-spoton-logistics","tag-xponentia-capital"],"views":690,"jetpack_featured_media_url":"https:\/\/yourchennai.com\/wp-content\/uploads\/2021\/08\/SpotOn-Logistics-Logo.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/posts\/15932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/comments?post=15932"}],"version-history":[{"count":1,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/posts\/15932\/revisions"}],"predecessor-version":[{"id":15934,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/posts\/15932\/revisions\/15934"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/media\/15933"}],"wp:attachment":[{"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/media?parent=15932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/categories?post=15932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/tags?post=15932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}