Real estate platform SILA Solutions Pvt. Ltd has acquired Forbes Facility Services from Shapoorji Pallonji Group in an all-cash deal for Rs 42 crore (around $5.5 million).
With this buyout, SILA’s facilities management services business will strengthen its presence in north India and widen its service offerings, including catering.
The combined entity is expected to clock over Rs 600 crore in revenue this year, the statement added.
Founded in 2010 by Rushabh and Sahil Vora, SILA is a real estate platform backed by Norwest Venture Partners and Samara Capital Group in their real estate services and development/asset management arms, respectively.
“We are excited to bring the Forbes Facilities Services team on board and are confident in partnering to gain from synergies across geographies and sectors. This deal will also help expand our portfolio within the high-growth sectors of industrial, manufacturing and warehousing across India," said Rushabh Vora, Co-Founder and CEO, SILA.
Forbes Facility Services Private Limited offers services to address the integrated facility management outsourcing needs. It caters to the manufacturing, food industry, automobile and ancillaries, and pharmaceutical, among other segments.
“We are excited about the abundant possibilities in the future. We have been a part of the Shapoorji Pallonji group which provided a rich background of lineage, policies, and support. With this deal, we now look forward to our partnership with SILA, a progressive company that has scaled rapidly," said Vinay Deshmukh, CEO of Forbes Facilities Services.