|Mumbai, July 15: Mumbai-based security solutions provider Topsgrup said today it had completed the acquisition of British security firm The Shield Guarding Company Limited.
Acquired for 19.5 million pounds, The Shield Guarding Company Limited (SGCL) is an award-winning, innovative provider of security services for internationally recognised brands in the commercial, industrial, charitable and public sectors.
"We have been the majority shareholders (of SGCL) for four years now. We stand committed to the British security industry and delivering world class security solutions," said Topsgrup's Global Chairman, Diwan Rahul Nanda.
"Together with the continued efforts and enormous hard work of my incredible teams at both Topsgrup and The Shield Guarding Company Limited, we will ensure that we go from strength to strength and will create a truly global security service to better others," he added.
Topsgrup originally acquired a 51 percent majority stake in the company in 2008, and then took up its option to purchase a 100 percent stake in the company.
Hile Nanda will assume his position as Executive Chairman of SGCL with the existing management team remaining in place, Stuart Kedward, who has been with SGCL for fifteen years, will assume the role of Managing Director.
The multi award-winning Topsgrup started off as an ailing company with just eight customers and is now India's largest security group, valued at over 200 million pounds. It comprises a conglomerate of 12 companies with 93,000 employees, over 8,000 clients in India, Israel and the United Kingdom, and has 120 offices.
Both the companies had had several awards and accolades to their credit and have been recognised as innovative providers of security services for internationally recognised brands. (IANS)