The Hindu Business Line : Topsgrup buys 51% stake in UK-based security solutions co

Bangalore, May 17 Topsgrup has acquired a 51-per cent stake in a security solutions company in the UK. The Mumbai-based company, however, did not disclose details about the equity buy out in the Rs 550-crore turnover overseas company.

Mr Diwan Rahul Nanda, Chairman and Managing Director, Topsgrup, told Business Line that this will be the first overseas acquisition from the security solutions industry.

Earlier addressing a press conference here, Mr Nanda said Topsgrup has bought out the Bangalore-based Guardwell Detectives Pvt Ltd for Rs 20 crore.

He said together the Indian and foreign acquisitions are expected to boost the total revenue of the company to over Rs 1,000 crore during the current fiscal (2008-09).

‘Will add value’

Mr Nanda said that Guardwell, with a ground force of 5,000 employees, apart from strengthening the Tops brand in the southern market, will substantially add value to its existing clients by offering Topsgrup’s single umbrella service for a wide range of security solutions.

Post acquisition, Topsgrup will become the second largest security service provider in southern India, he added.

Company services

Topsgrup is a leading total security solutions provider with 65,000 employees partnering over 6,000 clients through its pan-India network of 110 offices.

Topsgrup’s partners include Tata, Birla, Reliance, Airtel, Oracle, HSBC, Stanchart, ICICI and Future Group.

Guardwell Detective Services, one of the market leaders in Bangalore, Hyderabad and Chennai, would continue its existing services without any change in its brand name and management structure.

The existing promoter and Managing Director, Mr Vishwanath V. Katti, would continue to head the company.

tailor-made solutions

Topsgrup offers tailor-made security solutions including manned guarding, electronic security systems, investigation, facility management, cash management, consultancy, advanced training and emergency response.

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Topsgrup buys 51% stake in UK-based security solutions co