The promoters and investors want to exit the business. They have begun talk with strategic investors in the space," said a person involved in the deal. "If the price offered is right, even the promoters will exit, otherwise only TVS may sell its stake.""Since TVS has stayed its course in the company, it wants to exit. There is a lot of strategic interest in this space," said another person with knowledge of the deal.At the total enterprise value of about Rs 350-400 crore,
TVS Capital is expected to make a return of 2-2.5 times its initial investment in dollar terms.Gopal Srinivasan, founder, Chief Executive Officer, Managing Director and Chairman of TVS Capital Funds, said, "Nothing to say now other than that it's a great, unique and a wellmanaged business.""Cannot comment," said Shamsher Puri, managing director of Dusters Total Solutions Ltd., in an emailed response to ET.
Since 1994, Dusters Total Solutions Services provides facility maintenance and management services such as cleaning, office support, staffing solutions and payroll management, maintenance & engineering services, pest management, corporate and hotel services.The company has grown in the past two decades through organic and inorganic routes.
In 2013, it had acquired India subsidiary of Malaysia's Sinar Jernih group, and in December 2010, acquired Facilitec Services India Pvt Ltd, a firm specialising in engineering and mechanical services.According to a research report by TechNavio, the facilities management services market in India is expected to grow at a compounded annual growth rate, or CAGR, of 31.17 per cent between 2013 and 2018.Some of the key global players in the sector are A La Concierge Services,
CB Richard Ellis, Cushman and Wakefield, Jones Lang LaSalle, Knight Frank, MacLellan and Tenon Property Services, whereas the domestic competition comes from BVG India, George Maintenance Services, IL&FS Property Management and Services.To know more visit our site http://allindiayellowpage.com/.