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Mumbai, 24th February, 2023: India’s premier provider of sustainable pooling solutions LEAP India has acquired “SKAN Marine Services Private Limited”, which is one of the leading material handling equipment (MHE) rental companies in India. This acquisition would bring a significant growth prospect for both the companies in terms of Turnover and EBIDTA, as SKAN Marine’s solution offerings will give additional dimensions to LEAP India’s forays.
LEAP strategy is to be number one in any business that they venture into and the acquisition of SKAN Marine fits perfectly into the strategy. With this acquisition LEAP becomes the number 2 company in India in forklift renting space when they combine the numbers of SKAN and their existing subsidiary, Taron together. LEAP aims to grab number one positioning in next 12 months of acquisition. LEAP’s pallet business is high on EBITDA and the Forklift business is high on ROCE, the combined balance sheet will make the numbers robust. On the ground pallet and forklift are complimentary to each other and this acquisition will make LEAP India’s position among customers stronger. The customers will be at ease as LEAP India will become a one-stop-shop for various pallet and MHE requirements.
On this acquisition, founder and MD of LEAP India, Mr. Sunu Mathews says, “We are very excited to carry forth this acquisition as SKAN Marine has been one of the leading specialised material handling companies in India. We want to position LEAP India as a leading company in forklifts as well. This will enable us to partner with businesses where SKAN Marine has a strong presence, while continuing to work with brand’s where Taron already has its root base to accelerate growth of our brand identities. Capt. Sood has been very supportive, and it is a great honour to work alongside him. We look forward to gain better understanding of the industry with his decades of experience.”
Capt. Suresh Sood, MD, SKAN Marine Services Pvt Ltd, added, “It’s been a long time since SKAN Marine has been in the business and LEAP India shares synergy with our company. We share a similar path. Supply chain is a complicated and tough field, and it requires a lot of strategy to grow whether in volume or in profits, therefore it becomes important to decide your bottom line as the prices are not going down and demands are increasing in the industry. Hence, it becomes crucial to find a good match and LEAP India fits perfectly into our frame of business.”
LEAP India plans to acquire and partner with more companies over the next two years to position the brand as a leader in rented pallets and forklift services, thus cementing their place in India’s supply chain ecosystem.
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