Topsgrup acquires UK security firm

Shield is amongst the top ten firms in the UK that provides specialised security services like manned guarding, door supervision, CCTV public space surveillance to over 350 clients like Walt Disney, Fujitsu, Nokia, Halliburton KBR, and Porsche, amongst others.

"Shield's acquisition in the UK will act as a strategic gateway for our global growth plans in the coming years. Shield has great business ethics, strong management team and loyal customer base. We envisage a lot of cost and experience sharing benefits to acrue to both companies,'' said Topsgrup global Chairman Diwan Rahul Nanda.

"The strategic partnership of the two security brands augurs well for the rapidly-growing global security industry, which is estimated to cross the $230 billion mark by 2015,'' said Gerry Paxton, executive chairman of Shield.

The UK firm had a turnover of Rs 484 crore and a profit before tax of Rs 18 crore in 2008-09.

Topsgrup offers similar security solutions, including investigation and emergency response service called TOPSLINE 1252. Tops Secutiry Ltd, the flagship company of the group, was the first secruty firm in India to land private equity in 2007.

ICICI Venture invested Rs 115 crore for 13.69 per cent stake in company while the Future Group increased its existing stake in the company, from 4.94 per cent to 7.08 per cent with an additional investment of Rs 25 crore, taking the total exposure in Topsgrup to Rs 57 crore.

Stock investor Rakesh Jhunjhunwala also owns 10.8 per cent in Tops Security, and is also a director on the board of the company. The size of the domestic security industry is estimated to be around Rs 2500 crore, with the unorganised sector taking care of two-thirds of the business.

A few weeks back, Topsgrup had acquired the Rs 35-crore, Guardwell Detective Services, which offers guarding services in south India, and brings clients like Tatas, Birlas, Reliance, Airtel, HSBC, Stanchart, and ICICI.