Mumbai, Oct. 19: Caisse de dépôt et placement du Québec (CDPQ), the Canada-based pension fund manager, will invest over Rs 1,000 crore to acquire a "sizeable minority stake" in TVS Logistics Services Ltd, an arm of the TVS group.

As part of the transaction, CDPQ will buy out existing private equity investors Goldman Sachs and KKR. While CDPQ will purchase most of their joint stake, TVS family members and management will acquire the rest.

However, the exact amount of the stake was not mentioned by both the companies. The transaction is subject to the approval by the respective boards and the Competition Commission of India.

CDPQ is also ready to commit additional capital to finance transformative acquisitions and support the expansion of the logistics company in India and abroad.

"Over the years, we have benefited from a partnership with global investors like Goldman Sachs and KKR. We believe CDPQ is the perfect long-term partner for our next phase of growth as we look to expand the business. TVS Logistics, over the years, has grown at a compounded annual growth rate (CAGR) of more than 30 per cent and has a strong global track record of growth, both organically and through acquisitions," said R. Dinesh, managing director of TVS Logistics.

TVS Logistics began as a unit of TV Sundram Iyengar & Sons Ltd in 1995 and later became a separate company in December 2004.

The company provides end-to-end integrated logistics services to sectors such as automobile, beverages, IT, healthcare, telecom, retail, FMCG and defence globally. It is present in 14 countries, including India, the US, the UK, Spain, Germany, Italy and France.

The company has 15,000-plus skilled workforce and over 10 million square feet of warehouse space in India.

According to CDPQ chief executive officer Michael Sabia, TVS Logistics is well positioned to seize growth opportunities resulting from tax reforms in India and global demand for modern services.