LEAP is one of few companies to feature in our portfolio from the 1st fund. We first invested in LEAP via SSIO-I in 2016 (exited at 3x), when it was generating a Rs. 12crs revenue. Now, in FY24, LEAP has achieved revenues of Rs. 360crs+ at a robust EBITDA of ~60%, showcasing its ability to scale profitably.
LEAP commands an impressive 70%+ market share- leads CHEP, a global leader in developed markets. LEAP’s edge is its network of ~6 mn pallets—3x that of CHEP India—with a stellar 90%+ utilization over 5 years, driven by 600+ marquee clients such as Coca-Cola, Asian Paints, Nestlé and Unilever. High customer stickiness is a testament to its service delivery excellence.
In 2019, LEAP diversified offerings with warehouse equipment (forklifts, order pickers, etc.) rentals. With e-comm. growing rapidly, rising labour costs, & warehouse modernization, within 4 years, this segment has exceeded Rs. 65crs in revenue.
CHEP, a global leader in pooling for large, foldable containers, crates, & pallets, has a significant footprint in India’s automotive sector. By acquiring CHEP, LEAP is gaining immediate leadership in the auto pooling segment & can cross-sell across a broader range of clients and gain bargaining power with suppliers & customers, leading to superior RoCE & unit economics.
LEAP’s pallet pooling & MHE solutions, along with CHEP’s auto pooling capabilities position LEAP as a monopolistic player, laying the foundation for a potential IPO in the next 12 - 18 months.
Sunu Mathew, a former director at CHEP, established LEAP in 2013, and has built LEAP into India’s #1 asset pooling player in record time.
Sunu shared, “I would like to thank Nikhil and Sixth Sense for placing their trust and faith in me once again. We value the strategic guidance and insights they bring to the table. My team and I are fully committed to ensuring that we run the company with the highest standards of governance and are on track for a successful IPO within the next 12-18 months.”
Nikhil Vora (Founder/CEO of Sixth Sense Ventures) said, “It has been an amazing journey with Sunu and the LEAP team. Watching LEAP grow from strength to strength has been incredibly rewarding. We’re thrilled to see an Indian business acquiring an MNC competitor. Kudos to Sunu and his team! We are confident in Sunu’s execution abilities and excited to see LEAP’s continued growth, ultimately leading to a successful IPO.”
Nimisha Nagarsekar, Swati Mehra, Kathan Shah, Akshat Jain, Rishita Wadher, Harika Sabharwal, Sagar Tandon, Sohail Manjiramani, Rhea Vijoy, Harsh Chheda, Akshara kela
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