Security solutions firm Zicom Electronic Security Systems Ltd and its Singapore-based arm Unisafe Fire Protection has acquired a 49 per cent stake in fire security solutions provider Phoenix International WLL for $15 million.
Zicom has acquired five per cent stake, while its subsidiary Unisafe Fire Protection Specialists Singapore Pte has acquired 44 per cent stake in Phoenix International, according a filing in the Bombay Stock Exchange.
Phoenix International offers solutions in fire protection, suppression projects and petrochemical sector. The company’s portfolio includes covers design, engineering, integration, testing and commissioning of fire safety, security and building management systems, with main focus on fire prevention and protection. Currently it has clients from government to corporate, refineries, shopping malls, multi storey building, hotels and resorts. It was established in 2006.
The company has a team of 210 employees and it a turnover of Rs 80 crore as on March 31.
“We will work closely to leverage each other’s core competency and provide a complete gamut of security and safety solutions to our customers in Qatar,” said Vinu Kuruvilla, managing director of Phoenix International.
Started in 1995, Zicom electronic Security Systems offers services in intrusion and burglar alarm systems, access control systems, fire detection systems, CCTV Surveillance systems, central monitoring station and video monitoring station with focus and retail & SME sectors.
In 2011 March, Schneider Electric India Pvt. Ltd. Acquired Zicom Electronic Security Systems Ltd’s systems integration business. Prior to that, Brand Capital and Arisaig Partners India Fund also invested in the company.
"With acquisition of Phoenix International in Qatar, Zicom has expanded its footprints in GCC Countries and has become a major player in providing Fire Prevention and Protection products and services in Middle East region. This acquisition is in line with our strategy to offer our services in Middle East and North Africa (MENA) Region,” said Manohar Bidaye, chairman of Zicom Electronic Security Systems Ltd.