Tata Consulting Engineers Ltd, the wholly owned subsidiary of Tata Sons, has acquired Mumbai-based engineering consultancy services firm Ecofirst Services Pvt Ltd for an undisclosed amount. Ecofirst is a joint venture of PE firm Milestone Capital Advisors and the J Leon Group (UK), and the deal means an exit for Milestone.
This is the second recorded portfolio exit for Milestone Capital in the past two months. In December 2012, it part-exited from rating agency CARE during the latter’s initial public offering.
“We have made a mark as a prominent engineering solutions provider with prestigious projects within India and globally. Ecofirst will play a key role in helping our customers achieve their sustainability goals,” said JP Haran, managing director of Tata Consulting Engineers.
Tata Consulting Engineers caters to various sectors including power, nuclear energy, chemicals, infrastructure, industrial, mining & minerals, steel & metals and construction.
(Edited by Sanghamitra Mandal)