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The SIS Group, leading Indian owned security services group, and the US-based Terminix, the world leader in pest management, on Tuesday announced a joint venture to form a pest control services company, subject to government approvals.
The JV company, called SIS Terminix, will be investing over Rs. 250 crore to fund both organic growth and acquisitions in India. India’s current pest management market is worth Rs. 1,500 crore, growing at a CAGR of 20% and estimated to cross the $500 million (Rs 2,250 crore) by 2015.
While SIS will have a 51% stake in the JV, Terminix will have 49%. It will offer a range of pest and termite control solutions for homes, businesses and industrial establishments including treatments for cockroaches, rats, mosquitoes, flies and other common pests hazardous to health.
SIS Terminix will set up operations with 25 branches across India over the next few years and a research and development center to develop chemical formulations and other solutions for Indian conditions, Mr RK Sinha, Chairman and Managing Director, SIS Group, said. It also plans to set up a training facility for service technicians.
The SIS Group had sales of Rs 1,850 crores as on March 31, 2011, with operations across India and Australia. In 2008, it became the first Indian multinational in the security services space when it acquired Australia’s largest security company, Chubb Security.
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