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Hyderabad-based hybrid on-demand home cleaning and laundry player, SBricks, has acquired Melway, a facility management and hands-on services player, also from Hyderabad, for an undisclosed amount.
The acquisition will bring in 200 home cleaning professionals into SBricks' fold, along with brand equity and clientele portfolio, the company said in a statement on Tuesday.
"Melway adds tremendous synergy to our growth plans in home cleaning services business that is growing at a rapid pace. We are currently clocking 125 orders per day and expect to touch the 300 orders per day mark in the next few months. Now, we also have access to 6,000 service touch points that Melway brings to our table," said Nithin Reddy, founder and chief executive of SBricks.
Founded in 2015, SBricks will retain the four-year-old Melway trade name. Melway's existing team structure will also remain intact. SBricks will support the Melway and SBricks joint operations through strategic investments and inducing consumer relevant newer cleaning services, the company said in the release.
"We believe that a 'Hybrid' model is the way forward in our sector. We wanted to take the lead by consolidating our business through acquisitions and building our 'SBricks' brand in the market. The home cleaning services will grow rapidly in the coming years and the best way to go forward is to leverage this potential and join forces rather than having a turf war."
Stating that SBricks boasts a client roster of over 5,000, which is expected to touch 10,000 in the next six months, Reddy said, through boutique advisory service firm Consark, SBricks was in early stages of discussions with two international venture capital firms for investment to build its footprint in India in the near term.
