Security & Intelligence Services India has announced a strategic partnership with SLV Security Services (SLV), headquartered in Gurgaon, whereby it would take a 51% stake in SLV. This is the first strategic transaction for SIS since its IPO. Last year, the company had notified the stock market about its Rs 1000 crore acquisition / investment corpus.
The deal is as good as done according to a banker close to the development. “SIS would have a controlling stake in the company that currently has a revenue of around Rs 400 crore,” he said.
SLV, the NCR based security and facility management company, hires around 15,000 people. SIS had raised around Rs 1,000 crore through, pre-IPO, IPO placement and funding from an Australian bank for non-organic growth through mergers and acquisitions in 2017. The acquisitions are aimed at establishing the company’s leadership credentials in the security management space.
Even before it got listed on the capital market, SIS had been on an acquisition spree. In 2016, SIS acquired a majority stake, for around Rs 175 crore, in Dusters Total Solutions, a Bengaluru-based facility management services provider,.