3i acquires minority stake in BVG India

Written by: Pti
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Mumbai, Jan 27 (PTI) 3i, an international investor inprivate equity, infrastructure and debt management, and fundsmanaged by 3i, have acquired a minority stake in BVG IndiaLimited.

Financial details were not disclosed in the pressstatement released here.

BVG is one of India''s largest facilities managementservices companies with a pan-India presence, offering a widerange of services. It was established in 1997 and has grown toover 18,000 employees.

The company provides services such as mechanisedhousekeeping, landscaping and gardening, logistics andtransportation, electrical and mechanical services, amongothers.

BVG has over 250 clients in India including prestigiousnames in the public and private sector such as RashtrapatiBhavan, Parliament House, Prime Minister''s office andresidence, Indian Railways, AIIMS, Safdurjung Hospital,Delhi High Court, Mantralaya, Municipal Corporation of GreaterMumbai, TATA Motors, ITC, ABB, Volkswagen, Hyundai, Fiat, ONGCand Hindustan Unilever, among others.

Commenting on the transaction, 3i Asia''s ManagingDirector, Anil Ahuja, said "BVG is a pioneer in the facilitiesmanagement (FM) space in India and is well-positioned in thefast-growing FM market. This investment gives us an excellentopportunity to back a market leader to fulfil its growthaspirations and potential."

BVG India''s Chairman and Managing Director, H R Gaikwad,said, "we are very excited by 3i''s investment in BVG. 3i is arenowned name in the Indian and global private equity marketand we are very happy to welcome them as partners. We believethat 3i will provide us strong support in realising our growthplans."

This partnership would help in bringing global bestpractices to BVG India, leading to operational excellence andcustomer delight," the company''s Vice-Chairman, Umesh Mane,said in the statement.

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