Checkmate To Raise Rs66Cr For Expansion, Gets FIPB Approval
FIPB has cleared Checkmate's proposal of inducting Rs66Cr foreign equity for expanding it's private security services business.
Checkmate was talking to Standard Chartered PE for an equity infusion of Rs70Cr for a 49% stake in 2010(Link to our article).
Checkmate Services Pvt Ltd, founded in 1987 by Vikram Mahurkar, offers services such as manned guarding, cash and facility management besides electronic security solutions to companies across sectors.
Checkmate has also entered into a JV with Gate One in Morocco to provide security and surveillance to Ports, Airports and all major industrial and institutional installations in Morocco.
Apart from Checkmate, the other major players in Indian security market are Topsgrup, SI and Group 4 Securicor. Topsgrup has raised PE funding from ICICI Venture and Indivision in 2008.
Blackstone is also planning to acquire New Delhi-based Securitrans India Pvt Ltd from APS Group. Securitrans provides security cover for large commercial banks during transportation of cash and other valuables.
Transaction Reference: ET
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 19/09/11 | Checkmate Services - StanC PE | Private Equity | Standard Chartered Private Equity Limited | 13.81 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 14/05/12 | M&A | OCS Systems | Radiant Hospitality Services Private Limited | - | Completed |
| 08/05/12 | Venture Capital | The HR Fund | People Matters Media Private Limited | 0.76 | Completed |
| 04/05/12 | M&A | EFS Facilities Services | Dalkia India Private Limited | - | Completed |
| 12/04/12 | Venture Capital | Unitus Seed Fund | Villgro Innovation Marketing Private Limited | - | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Standard Chartered Private Equity Limited | BFSI Services Engineering / Capital Goods Real Estate IT/ITES/Technology |
http://wholesalebanking.standardchartered.com/en/Pages/homepage.aspx | Dhiraj PoddarKaram ButaliaS IswaranNainesh JaisinghVibhav ParikhRahul Raisurana | |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Checkmate Services Private Limited | Vikram P Mahurkar | Amaan Towers, GF - 6,7,8,9, Suvas Colony Fatehgunj Main Road Baroda - 390002, Gujarat |
Tops Security Limited Raxa Security Services Limited |
www.checkmateservices.com |
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