Kuwait’s Al Tanmiya acquires 45% stake in Prolific for Rs 110mn

Kuwait based Al Tanmiya Holding has acquired a 45% stake in Mumbai based Prolific Systems & Technologies Pvt. Ltd. for Rs.110 million.

Prolific Systems is India’s largest industrial automation training company focused on providing advanced vocational training to both corporate and retail segments. Prolific has a presence in 21 centres with over 75 well-equipped laboratories and, in the current year, it will train over 6000 retail customers. The retail advanced vocational training market in India offers enormous potential and is expected to grow from the present Rs. 1000 crore to Rs. 2000 crore by FY13.

Prolific has over 280 employees and expects to post revenues of around Rs. 130 million in the current fiscal.

Established in 2001 as an investment company, Al Tanmiya Holdings has invested over USD 100 million (Rs 480 crore) in a diversified portfolio of companies in the business of human capital – corporate training, organisational development and management, business process outsourcing and HR solutions.

Spurred on by this strategic investment, Prolific has drawn up aggressive growth plans to expand its various businesses in retail and corporate training as well as turnkey automation projects in India as well as the MENA region.

Speaking on the occasion, Vasudeo Joshi, Executive Chairman of Prolific said, “Al Tanmiya’s strategic investment will be a shot in Prolific’s arm. We plan to add around 150 people over the next two years and look forward to grow our advanced vocational training as well as industrial automation solutions businesses in India as well as the Middle East and North Africa and are targeting 100% annual growth over the next few years.”