TVS Supply Chain Solutions (TVS SCS), a part of $8.5-billion TVS group, on Tuesday announced that Japan’s Mitsubishi Corporation (MC) has picked up a minority stake in the company for an undisclosed sum of investment.

In a press release, the integrated supply chain management services company said MC’s investment is through a secondary market transaction which will allow an existing investor - Tata Opportunities Fund - to secure a partial exit.

The Tata Opportunities Fund (TOF) initially came on board in 2015 as a minority partner and has invested across multiple rounds in TVS SCS to fund acquisitions and support TVS SCS’ growth. TOF, however, will continue to hold a residual stake and remains a key strategic investment partner for TVS SCS, the company said.

“I am delighted to welcome Mitsubishi Corporation. TVS SCS has successfully pivoted into new segments and addressed opportunities arising out of Covid through customer-focused offerings and digital capabilities. Through our partnership with Mitsubishi Corporation, we aim to accelerate our growth in the years to come,” R. Dinesh, Managing Director, TVS Supply Chain Solutions, said in the statement.

The company said the current investment will further strengthen its leadership position, to a much larger customer footprint, by extending its complete suite of digital supply chain solutions and value-added services.

TVS SCS provides integrated supply chain services to sectors such as automobile, beverages, IT, healthcare, telecom, retail, FMCG and defence globally. It has a presence in 19 countries including in the US, the UK, Spain, Germany, Italy, France, Singapore, Australia, New Zealand, Mexico and others. The company manages more than 300 blue-chip customers through its 18,000 plus skilled workforce and manages over 20 million square feet of warehouse space in India.