3i, an international investor in private equity, infrastructure and debt management, and funds managed by 3i, acquired a minority stake in BVG India Limited. BVG is one of India’s largest facilities management services companies with a pan India presence, offering a wide range of services, stated a press release from 3i.
Established over two decades ago, BVG has grown to over 18,000 employees. The Company provides services such as mechanized housekeeping, landscaping and gardening, logistics and transportation, electrical and mechanical services etc.
BVG has over 250 clients in India including prestigious names in the public and private sector such as Rashtrapati Bhavan, Parliament House, Prime Minister’s office and residence, Indian Railways, AIIMS, Safdurjung Hospital, Delhi High Court, Mantralaya, Municipal Corporation of Greater Mumbai, TATA Motors, ITC, ABB, Volkswagen, Hyundai, Fiat, ONGC, and Hindustan Unilever amongst others.
Commenting on the acquisition, Anil Ahuja, Managing Director 3i Asia, noted that BVG is a pioneer in the facilities management (FM) space in India and is well positioned in the fast growing FM market. This investment gives 3i an excellent opportunity to back a market leader to fulfill its growth aspirations and potential, said Ahuja.
H.R. Gaikwad, Chairman and Managing Director, BVG India, on his part said the 3i’s investment in BVG marks a great opportunity for the firm. 3i is a renowned name in the Indian and global private equity market and working with it as a partner is a strategic move, said Gaikwad. Gaikwad expects 3i will provide BVG strong support in realizing its growth plans.
Umesh Mane, Vice Chairman, BVG India, said he believes this partnership will help BVG in bringing global best practices to the firm, leading to operational excellence and customer delight.
3i is an international investor focused on Private Equity, Infrastructure and Debt Management, investing in Europe, Asia and North America. Its competitive advantage comes from its international network and the strength and breadth of its business relationships. These underpin the value that it delivers to its portfolio, shareholders and fund investors. 3i has over 400 employees in 12 countries.
BVG India Limited is one of India’s largest facilities management services companies providing a combination of soft and hard facilities management services to over 250 clients across India. Its clients include a mix of several prestigious public sector institutions and private sector companies. BVG is headquartered in Pune, Maharashtra.
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