Homegrown private equity firm Samara Capital, which is in the process of wrapping up its third flagship fund, has agreed to acquire undisclosed stakes in Associated Road Carriers Ltd (ARC), a B2B road transportation company, and Calyx Container Terminals Pvt Ltd (Calyx), a licensed container freight station serving the Chennai port, the investment firm said in a statement.
The two businesses will be brought together to create an integrated logistics entity, according to the statement.
The combined entities recorded a revenue of approximately Rs 2,140 crore in FY26. The fresh capital will be used to expand the branch and hub network, strengthen first- and last-mile capabilities, modernise technology and pursue selective acquisitions.
Founded in 1972, ARC operates over 20 hubs and around 600 branches spanning more than 16,000 pin codes, with close to 2 million square feet of covered hub space. The company deploys around 3,500 trucks daily on an asset-light model, with less than 7% of its fleet owned. It serves more than 100,000 active customers across project cargo, full truckload (FTL) and part-truckload (PTL) segments.
ARC's customer base spans capital goods, chemicals and pharmaceuticals, power and electrical equipment, metals, automotive, textiles and FMCG. Approximately 95% of its revenue comes from existing customers, with no single customer accounting for more than a small share of revenue.
Calyx, founded in 2006, operates a container freight station around 20 km from the Chennai port, with an annual capacity of around 75,000 TEUs. It also provides supply chain management and empty container yard services to shipping lines and clearing agents.
"Networks of this density are built over decades," said Abhishek Kabra, managing director, Samara Capital. "Very few businesses in Indian logistics combine that reach with this quality of earnings. Together with Calyx, we now have an entity that covers both domestic and EXIM cargo movements. We see logistics as an attractive sector for investment due to rising freight intensity, as India’s manufacturing-led growth accelerates,” he added.
Speaking on the same, Abhik Mitra, operating partner at Samara Capital, said, “Our focus will be… best-in-class service levels using an integrated, comprehensive, pan-India road transportation network. This will be enabled through initiatives and investments in network expansion, people, technology, data analytics, engineering and process improvements. We are confident in our ability to help lead this transformation, as demonstrated by our previous investment in Spoton Logistics, which went on to emerge as a leading player in the express logistics segment.”
The transaction is a culmination of a process arising from a generational transition within the promoter group, marking the first institutional capital in a business built over more than five decades. "This transition is a conscious step towards institutionalising the business, separating ownership from management, strengthening its governance and creating an opportunity for sustainable long-term growth. Our employees have been the backbone of the company for over five decades, and we are confident that the new partnership will build upon this strong team, nurture its talent and provide it with greater opportunities to grow alongside the company,” said Rajiv Goyal, representative, promoter group.
Meanwhile, Samara Capital, a homegrown, mid-market-focussed private equity firm with over Rs 12,000 crore invested across a diverse portfolio of more than 30 companies, is currently in the final stages of wrapping up its third flagship fund.
Earlier this month, Marengo Asia Hospitals, a multi-specialty hospital platform formed by Samara Capital and two family offices, secured fresh funding from private equity firm LeapFrog Investments to expand its presence in tier I Indian cities and beyond. Samara Capital broadly invests across sectors including consumer/retail, healthcare/pharma, financial services, and business services/technology.