Quess Corp to Acquire Stake in Terrier Security Services
Forays into manned guarding and security solutions business
Bangalore October 19, 2016: Quess Corp., India’s leading integrated business services provider announced that it has entered into a definitive agreement to acquire a 49% stake in Terrier Security Services (India) Private Limited (“Terrier” or “Company”), marking its entry into the manned guarding and security solutions business.
With a track record of over 27 years, Terrier is among the leading providers of manned guarding services in India. In addition, Terrier also provides training services for security personnel and electronic security solutions to clients.
Terrier has a pan India footprint with presence across 14 states spanning 60 cities. The Company has over 400 clients including marquee names in the Information Technology, Engineering and Automobile Sectors and a deployed head count of over 16,000 guards as on 31st August, 2016. The Company closed FY 16 with Revenue of ~Rs. 220 cr and EBITDA margin of ~5%. Terrier is known for its long standing relationships with clients with most large clients having been associated with Terrier for over 5 years.
Commenting on the acquisition, Mr. Ajit Isaac, Chairman and CEO of Quess Corp said, “I see our partnership with Terrier as a strategic fit as it provides us a foothold into the manned guarding and security solution space thereby expanding the bouquet of services we can offer our clients. This partnership cements our growing presence in the Integrated Facility Management (IFM) space and would enable us to cross sell our service offering to our existing clients as well as Terrier’s portfolio. Capt. Ravi and his team have built a well reputed organisation and we are pleased to welcome him and the Terrier team to the Quess family.
Capt. Ravi, Founder of Terrier commented, “We are delighted that Terrier is joining hands with Quess Corp as we further expand on our capabilities to emerge as a total security solution provider for both electronic security and manned guarding services. We have licences to operate across 14 states in India and employ some of the best ex-servicemen who manage operations in a seamless manner. I am sure that this investment from Quess will enable Terrier to grow as a part of a larger Business Services platform provider in India.”
Closing of the transaction is subject to, inter-alia, fulfilment of certain conditions precedent set out in the agreement between the parties to the satisfaction of Quess, and statutory and regulatory approvals.
This document contains statements that constitute forward-looking statements. These statements include
descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects”, “plans”, ‘will”, “estimates”, “projects”, or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in such forward-looking statements as a result of various factors and assumptions, which the Company believes to be reasonable in light of its operating experience in recent years. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our international operations, government policies, regulations, etc. The Company does not undertake any obligation to revise or update any forward looking statement that may be made from time to time by or on behalf of the Company including to reflect actual results, changes in assumptions or changes in factors affecting these statements.