The Company has signed a term sheet/ Memorandum of Understanding w.r.t investment in International Logistics Associates LLC
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Velox Shipping and Logistics Ltd has signed a term sheet and MoU to acquire a 98% stake in International Logistics Associates LLC (ILA), a US-based logistics company founded in October 2013. The deal is a cash transaction valued at USD 447,860 for the 98% stake, against an equity value of USD 457,000. ILA reported a turnover of USD 4.23 million and a profit of USD 120,369 in 2024, and is engaged in freight contracting, shipping agency, and related logistics services. The acquisition is aimed at expanding the company's international logistics operations and is expected to be completed by December 2026. No governmental or regulatory approvals are required, and it is not a related-party transaction.
This acquisition marks Velox's international expansion into the US logistics market, though the target's size (turnover ~₹35 crore) is modest relative to typical deal sizes. Shareholders should note the deal is still subject to completion of procedural requirements and final closing, so there is execution risk before it reflects in financials.