Real Estate platform SILA [Sila Solutions Private Ltd.], said it has acquired Forbes Facility Services from the Shapoorji Pallonji Group in a ₹42 crore all-cash deal.
SILA is already into Facilities Management and this acquisition will strengthen its presence in North India and widen its service offerings, to include catering.
The combined entity is expected to clock over ₹600 crore in revenue this year, the company said.
Rushabh Vora, Co-Founder & CEO, SILA said, “We are confident in partnering to gain from synergies across geographies and sectors. The incoming team’s experience, aided by our proprietary-technology, SILA Connect, will enable us to scale efficiently.”
“This deal will also help expand our portfolio within the high-growth sectors of industrial, manufacturing & warehousing across India,” he added.
Vinay Deshmukh, CEO, Forbes Facilities Services said, “We have been a part of the Shapoorji Pallonji group which provided a rich background of lineage, policies, and support. As a direct descendant from Eureka Forbes, we pledge to take forward the concept of ‘Friend For Life’ for our customers and stakeholders.”
“With this deal, we now look forward to our partnership with SILA, a progressive company that has scaled rapidly.”
The combined entity will be amongst the largest Indian owned service providers in the industry, managing over 100 million square feet of real estate, with over 15,000 employees across India. Over the last decade, SILA has grown at CAGR of over 60%. It said it would maintain a high-growth rate via organic and inorganic opportunities.
