TOPSGRUP has acquired 51% in a UK-based security company, The Shield Guarding Company, for about Rs 125 crore. This is the first overseas acquisition by an Indian security company, a statement from the firm said on Thursday.
Shields acquisition will act as a strategic gateway for our global growth plans in the coming years. Shield, with its great business ethics coupled with a strong management team and a loyal customer base has great synergies with TOPSGRUP. We envisage a lot of cost and experience sharing benefits across both companies that will benefit our customers and employees as well, said TOPSGRUP global CMD Dr Diwan Rahul Nanda.
The Shield Guarding Company, set up in 1987 and one of the top 10 market leaders in the UK, has clients such as Walt Disney, Fujitsu, Nokia/Vertu, Master Foods, Broadgate Estates, Ove Arup, Halliburton KBR, Porsche.
TOPSGRUP has 65,000 employees and over 6,000 customers through its pan India network. The statement said that the firm aims to end the current fiscal year with a turnover of over Rs 1,000 crore. Recently, the firm acquired south Indian security firm Guardwell Detective Services for Rs 35 crore. Some of TOPSGRUPs key clients include Tatas, Birlas, Reliance, Airtel, Oracle, HSBC, Stanchart, ICICI, Future group amongst others.
Shield posted a turnover of $121 million and a profit before tax of $4.5 million in 2007-08. The British firm offers specialised security services in the areas of manned guarding, door supervision, CCTV public space surveillance, vehicle immobilization and cash in transit. Shield currently partners with over 350 customers, employs over 2,500 human capital assets and operates out of four offices in the UK.