Sonoma Managament Partners controlled RT Outsourcing has renamed itself as inTarvo Technologies Ltd as part of a revamp initiative. The IT buyout firm, which concluded the deal two years ago, has led the revamp. Apart from Sonoma, other investors in the firm include Motilal Oswal PE and New Enterprise Associates (NEA).
The Delhi-based company has also roped in another investor. Earlier this year, IDFC, through it asset management arm, has also picked up a small stake in the company.
"We wanted to give it a more professional look and also capture the fact that the company has moved beyond outsourcing- which it had done much earlier", said Pravin Jain, who currently controls the company. With the revamp, the company has also moved from a promoter-driven company to a professionally-run company, Jain adds.
inTarvo, which began as a printer repair company in 1995, has since then diversified into various areas like warranty management, repair and refurbishing and customer care. Under the new growth plans, it would also seek to foray into e-waste Management, electronic security installation and maintenance & remote infrastructure management.
"We plan to have a lot of delivery centers as part of the core repair work and most of these can be utilised as collection centres for technology waste. E-waste management is a huge opportunity in India," said Jain.
inTarvo is present in more than 200 cities with 400+ centres and in excess of 3,500 technically-skilled employees on it’s payroll. The company has also expanded its footprints to overseas locations including Sri Lanka, Bangladesh, Middle East & Singapore.
Last year, NEA had invested Rs 65 crore in inTarvo, Motilal Oswal Venture Capital also invested Rs 31 crore in the company in 2007.