IndiaNivesh-backed CLR Facility buys majority stake in Hindustan Facilities

By Keshav Sunkara

  • 14 Sep 2018
Credit: Pixabay

Pune-based CLR Facility Services Pvt. Ltd has acquired a majority stake in Mumbai-based Hindustan Facilities Pvt. Ltd.

“This acquisition complements our facility management services business to provide specialised cleaning solutions to clients across the country,” CLR director Gautam Pathak said in a statement.

The financial details of the deal were not disclosed.

Incorporated in 2009, Hindustan Facilities provides housekeeping and specialised services such as carpet cleaning. Its clients include corporate offices, multiplexes, IT and real estate companies. It has presence in more than 10 states, according to the statement.

Hindustan Facilities’ total income rose to Rs 24 crore for the year through March 2017 from Rs 17.3 crore the previous year, according to VCCEdge, the data research platform of News Corp VCCircle.

Incorporated in 2008, CLR Facility provides integrated facility management and staffing solutions. It employs more than 15,000 people across 15 states, according to the statement.

Mumbai-based Proficio Advisors acted as the financial adviser to Hindustan Facilities on this transaction.

CLR Facility has acquired a majority stake in two companies in the recent past. Last month, it bought into DK Hospitality to strengthen its market position in western India. In January 2017, it had purchased a majority stake in Mumbai-based Right Resources Corporate Services Pvt. Ltd.

In the facility management segment, Fairfax-controlled Quess Corp is one of the leading companies. Quess, too, has expanded via acquisitions.

In January, Quess acquired a 90% stake in Greenpiece Landscapes for Rs 26.2 crore. In 2016, it acquired the facility management and catering business of Manipal Integrated Services https://www.vccircle.com/quess-corp-acquire-manipal-integrated-services.

Other deals in the segment include private equity firm Samara Capital buying Sanjay Maintenance Services in April 2017 through a management buy-in led by former executives of ISS Facility Services India.