Combined entity is expected to clock over ₹600 crores in annual revenue
Real estate platform SILA has acquired Forbes Facility Services from the Shapoorji Pallonji Group in an all-cash deal. With this acquisition, SILA’s Facilities Management services business will strengthen its presence in North India and widen its service offerings to include Catering. The combined entity is expected to clock over ₹600 crores in revenue this year.
Talking about the acquisition, Rushabh Vora, Co-Founder & CEO, SILA said, “We are excited to bring the Forbes Facilities Services team on board, and are confident in partnering to gain from synergies across geographies and sectors. The incoming team’s experience, aided by our proprietary technology, SILA Connect, will enable us to scale efficiently. This deal will also help expand our portfolio within the high-growth sectors of Industrial, Manufacturing & Warehousing across India.”
Vinay Deshmukh, CEO Forbes Facilities Services, said, “We are excited about the abundant possibilities in future. We have been a part of the Shapoorji Pallonji group which provided a rich background of lineage, policies, and support. As a direct descendant from Eureka Forbes, we pledge to take forward the concept of ‘Friend For Life’ for our customers and stakeholders. With this deal, we now look forward to our partnership with SILA, a progressive company that has scaled rapidly.”
The combined entity will be amongst the largest Indian owned service providers in the industry, managing over 100 million sq ft of real estate, with 15,000+ employees across India. Over the last decade, SILA has grown at CAGR of over 60%. SILA is confident of maintaining a high-growth rate via organic and inorganic opportunities such as the deal with Forbes Facilities Management.