Asia Climate Partners To Invest In ColdEX; India Equity Partners Gets Exit

Gwalior-based food cargo supply chain service provider ColdEX Logistics Pvt Ltd has agreed to
divest a stake to private equity fund Asia Climate Partners for an undisclosed amount, according to a
press release.
Asia Climate Partners, which is backed by the Asian Development Bank and ORIX Corporation of
Japan, has also agreed to buy the stake held by India Equity Partners, as part of the deal. India
Equity Partners had acquired the stake in ColdEX in December 2010.
With Asia Climate Partners coming on board, this would be the second round of institutional
investment in the company.

ColdEX will use the fund being raised to establish a pan-India footprint for its warehouses in addition
to its transportation network. Over the next three years, ColdEX plans to add new cold-chain
warehousing capacity of 50,000 pallets with a capital outlay of Rs 250 crore.
'This investment will enable ColdEX to ramp up capacity and achieve our vision of becoming a total
cold chain solution provider to our customers by building world class infrastructure and an affordable
and reliable supply chain," Gaurav Jain, founder and managing director of ColdEX, said in the
statement.
The clients of the company include Cadbury, Burger King, Starbucks and Yum! Brands, which runs
KFC and Pizza Hut chains, among others.