Hero Cycles Ltd has acquired a strategic stake in German premium e-bike maker HNF Nicolai while Samara Capital-backed Spoton Logistics has acquired a stake in Chennai-based RTS Logistics.
Hero Cycles picks stake in Germany’s HNF Nicolai
The company bought the stake along with German investment trust IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH, which is an investment vehicle for the state of Saxony-Anhalt. Hero Motors was also involved in the deal, Hero Cycles said in a statement.
“The German acquisition marks a major step for Hero Cycles towards achieving a 5 percent share on the global e-bike market by 2022. With Europe leading the e-bikes market with a 20 per cent year-on-year growth, we aim to obtain a larger part of this market in the coming years,” the statement added.
Spoton Logistics acquires stake in RTS Logistics
RTS provides third-party logistics, and competes with the likes of R Dinesh-led TVS Logistics and Mahindra Logistics. RTS oversees the distribution chain for many blue-chip companies. It follows an asset light model wherein it operates a fleet of vehicles and runs warehouses on lease, freeing up capital on investments into technology.
“We were looking for partnerships with large companies with whom we can create a platform and collaborate on processes and technology, and we found the adjacencies as the right fit to engage with Spoton,” Narasimhan R, Principal Founder of RTS, was quoted in the report.
Financial details of the deal were not disclosed.