Bangalore-based Dusters Total Solutions Services Pvt Ltd (DTSS) has completed its investment to acquire 100 per cent stake in Chennai’s Sinar Jernih India Pvt Ltd, a soft services provider in the facilities management space (FMS).
Although the deal value is not disclosed, it has been done in two tranches. In Sept 2011, DTSS invested in Sinar Jernih to pick up 50 per cent stake in the company and acquired the rest in the current transaction. The Chennai firm is a wholly owned subsidiary of Sinar Jernih, Malaysia, and holds a brand licensing agreement with the parent company.
As per the brand licensing agreement, the acquired firm will continue to serve the hospitality and healthcare segment under the name of Sinar Jernih for two years. The directors of Sinar Jernih have now become shareholders in Dusters in order to pave the way for a joint effort to introduce modern technology for its business.
Founded in 1994, Dusters Total Solutions Services (earlier known as Dusters Hospitality Service Pvt Ltd) provides facility maintenance and management services like cleaning, office support, staffing solutions & payroll management, maintenance & engineering services, pest management, corporate and hotel services.
TVS Shriram Growth Fund, a fund managed by TVS Capital Funds Ltd, had invested $2.25 million and $5.38 million in Dusters in 2010 and 2009, respectively.
Incorporated in 2002, Chennai-based Sinar Jernih provides house cleaning and hospital cleaning services.
“Sinar Jernih adds great strategic depth to our portfolio by adding best-in-class expertise in the hospitality and healthcare verticals, both of which are primed to witness exponential growth. We are especially pleased with the addition of a marquee client base, as well as the ability to leverage Sinar Jernih’s international technical expertise through our arrangement with Sinar Jernih Bhd, Malaysiaâ€.
In December 2010, Dusters acquired Facilitec Services India Pvt Ltd, a firm specialising in engineering & mechanical services.
(Edited by Sanghamitra Mandal)