SILA Solutions Pvt. Ltd, a real estate platform, has acquired Forbes Facility Services from Shapoorji Pallonji Group in an all-cash deal worth Rs 42 crore (approximately $5.5 million).
SILA's facilities management services business will strengthen its presence in north India and expand its service offerings, including catering, as a result of this acquisition.
The combined entity is expected to generate more than Rs 600 crore in revenue this year, according to the statement. SILA, founded in 2010 by Rushabh and Sahil Vora, is a real estate platform backed by Norwest Venture Partners' real estate services and Samara Capital Group's development/asset management arms, respectively.
“We are excited to bring the Forbes Facilities Services team on board and are confident in partnering to gain from synergies across geographies and sectors. This deal will also help expand our portfolio within the high-growth sectors of industrial, manufacturing and warehousing across India," said Rushabh Vora, Co-Founder and CEO, SILA.
Forbes Facility Services Private Limited offers services to address the integrated facility management outsourcing needs. It caters to the manufacturing, food industry, automobile and ancillaries, and pharmaceutical, among other segments.
“We are excited about the abundant possibilities in the future. We have been a part of the Shapoorji Pallonji group which provided a rich background of lineage, policies, and support. With this deal, we now look forward to our partnership with SILA, a progressive company that has scaled rapidly," said Vinay Deshmukh, CEO of Forbes Facilities Services.