Apart from being a system integrator, Trimax offers managed services and tech support services by incubating new offerings like infrastructure management (including remote), network security management and data center operations. The company employs 1,500 people across 40 locations in India.
Trimax executes BOOT projects for MSRTC involving computerisation of online ticketing services across 22,000 buses being run by it. It is also setting up a 1, 20,000 sq.ft data center in collaboration with ITI Bangalore to cater to customers across industry verticals.
Naval Totla, Director, Banyan Tree Growth Capital Fund, has a lot of expectations from the company. He says, “I guess it will be a multi bagger for us. If they perform as per business plans, they are expected to give us multiple returns.” Banyan Tree has been very careful in selecting Trimax for the investment. “Trimax is purely a domestic play. It does not have any exposure to exports or the US and the European markets as of now. So it is a very safe bet in that sense,” says Totla.
Mumbai-based investment banking firm Blend Financial Services Ltd acted as advisor to Trimax on the deal.
Banyan Tree has previously co-invested with Dutch entrepreneurial development bank FMO in synthetic rope manufacturer Axiom Impex ltd. The two also invested in Kalpena Industries, a manufacturer of PVC compounds.