Topsgrup acquires Guardwell

Mumbai, May 16: Leading player in the Rs 2,500-crore Indian security solutions industry, Mumbai-based Topsgrup has acquired Bangalore-based Guardwell Detective Services which will retain its brand name and managing structure.

Topsgrup Chairman and MD Diwan Rahul Nanda said in a press release here, ''Guardwell with a ground force of 5,000 employees, apart from strengthening the Tops brand in the Southern market, will substantially value add to its existing clients by offering Topsgrup's single umbrella service for a cross range of security solutions.'' Post deal, Topsgrup will become the second largest security service provider in Southern India, he added.

Topsgrup had also undertaken a Rs 1,000 crore market capitalization in 2007-08 fiscal, the release added.

UNI