SIS Ltd, one of India’s leading private security services firms, has approved the acquisition of New Delhi-based AP Securitas Pvt Ltd in an all-cash two-phase deal, aimed at widening its ambit of security solutions.
As part of the agreement, SIS will acquire 51% stake in AP Securitas in 2025, with the remaining stake to be purchased by 2029, the company said in an exchange filing.
In the first tranche, SIS will pay an interim amount of Rs 73.40 crore ($8.3 million), subject to debt and working capital adjustments.
The final valuation for the full acquisition will be determined upon completion of the second tranche, the filing said.
Founded in 1986, AP Securitas provides guarding, event security management, housekeeping, facilities management, and security surveillance services to clients in banking, logistics, third-party outsourcing, and education. For FY25, the company reported revenue of Rs 1,119 crore.
The company operates primarily through its subsidiaries, Proton Facility Solutions and Scientific Security Management Services.