CLR Facility Services’ acquisition of a majority stake in Hindustan Facilities had to be future proofed by anticipating and documenting future scenarios in a fast consolidating facilities management sector, said a partner involved in the deal.
The acquisition by the Pune-based soft services company was also different because the promoters of the target are set to continue in the business for a brief period, and also because the consolidation is happening over a period of time, said Dharmesh Kotadia, a partner at Clove Legal, the adviser to Hindustan Facilities.
CLR, which is backed by India Nivesh, offers soft services such as landscaping and waste management; technical services such as operation, maintenance, plumbing and carpentry; business support services such as help desks and transportation management; specialized cleaning services such as carpet shampooing; and specialized pharmaceutical services such as audit training.
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