The Venture Intelligence Blog

TVS Shriram Growth Fund-I, managed by Chennai-based TVS Capital, has announced that it has completed its Rs.35 crore investment commitment (originally announced in Nov-09) in Facilities Management Service provider Dusters Total Solutions Services (DTSS), with a balance Rs.10 crore tranche. Formed by merging two companies run by Shamsher and Jasmer Puri, the Bangalore-based DTSS has offices in Mumbai and other cities across 10 states. Simultaneously, it was also announced that DTSS has acquired Facilitec Services, a Singapore- and Bangalore-based FMS provider specializing in the Service, Operations and Maintenance of Electrical and Mechanical Systems. Following the acquisition, KC Gupta, MD of Fascilitec Services will head the M&E vertical in DTSS.

Business Today has a profile of PE-backed facilities management firm BVG India. (Hanmant R Gaikwad) is the man who founded Bharat Vikas Group (BVG) India, one of the country’s largest facilities management companies based out of Chinchwad near Pune. BVG India provides non-core activities such as mechanised housekeeping, landscaping & gardening, and security services to private and government institutions with the help of a 16,000-strong ready-to-move and trained and pan-India workforce. ...At Tata Motors, Gaikwad would on a regular—and informal—basis supply the company with youth from Satara whenever it was looking for people. The breakthrough came when Tata Motors was on the look out for a housekeeping contractor for its mintnew Indica plant. Gaikwad proposed that the contract be given to BVP. Tata Motors agreed. That’s when BVP began operations in 1997 as a housekeeping company with just eight employees. In three years, BVP had grown into a 200-strong outfit, with Tata Motors as...