From correspondents in Maharashtra, India, 08:31 PM IST

In thefirst of its kind acquisition deal in the Indian security solutions industry,Topsgrup with a market capitalization of Rs 1000 crores (07-08) has acquiredthe Bangalore based Guardwell Detective Services Pvt. Ltd.

Accordingto Dr. Diwan Rahul Nanda, Chairman &Managing Director, Topsgrup, “Guardwellwith a ground force of 5,000 employees apart from strengthening the Tops brandin the Southern market, will substantially value add to its existing clients byoffering Topsgrup’s single umbrella service for a cross range of security solutions.Post this acquisition, Topsgrup becomes the 2nd largest securityservice provider in Southern India,” Dr. Nanda added.

Currently,Topsgrup is the country’s leading total security solutions provider with ahuman capital base of 65,000 employees partnering with over 6,000 clientsthrough its pan Indianetwork of 110 offices. Topsgrup through its aggressive growth drive is poisedto achieve revenues in excess of Rs 1000 crores by the end of current fiscal.Some of Topsgrup’s partners include Tatas,Birlas, Reliance, Airtel, Oracle, HSBC, Stanchart, ICICI, Future group amongstothers.

GuardwellDetective Services, one of the market leaders, in Bangalore,Hyderabad andChennai, would continue its existing services without any change in its brandname and management structure. The existing promoter and Managing Director MrVishwanath V Katti would continue to head the company. Mr. Katti, ManagingDirector, Guardwell commented “Bybecoming a part of Topsgrup, we will be able to offer diverse services to our existingclients in other parts of the country. Our clients and employees will benefitthrough the best business practices adopted by Topsgrup.”

Topsgrupoffers tailor-made security solutions including manned guarding, electronicsecurity systems, investigation, facility management, cash management,consultancy, advanced training and emergency response.

TopsSecurity Limited, the flagship company of Topsgrup, holds the distinction ofbeing the first security firm in India to land private equityfunding in 2007. Last year, ICICI Venture invested Rs 115 crore ($28 million)for 13.69 per cent equity stake, while Indivision (the investment arm of FutureGroup) increased its existing stake in the company from 4.94 per cent to 7.08per cent with an additional investment of Rs 25 crore ($6 million) taking itstotal exposure on Tops at Rs 57 crore and the company’s market evaluation to arecord Rs 840 crore. Well known stock investor Rakesh Jhunjhunwala also owns10.8 per cent stake in Tops and is a director on the board. Equirus is an Exclusive financial Advisor to the Topsgrup.

Closer home, the security industry, which is beingtermed as the ‘sunrise industry’ in the corporate sector is estimated to be Rs2500 crore, fragmented by the unorganized sector at Rs 1500 crore. It isgrowing at a staggering compound annual growth rate (CAGR) of 25 per cent, andis expected to be a dominating sector in the coming years.

The security industry worldwide is currently pegged at$141 billion that includes guarding, investigation and electronic security.

Source: Press Release Distribution via India PRwire