Business Services
Updater Services raised private equity from Motilal Oswal Private Equity
About
UDS
Incorporated in 1985 and promoted by Raghunandana Tangirala, a first-generation entrepreneur, UDS is one of the leading integrated facilities management services companies in India with significant presence across IFM (integrated facilities management), P&S (people and staffing) and PSS/IAM (production support services/ industrial asset management) segments.
With an employee base of ~40,000, UDS manages more than 150 mn sq ft of floor space and caters to a clientele list that includes more than 700 well-known names in their respective verticals. Headquartered in Chennai, the company has a pan-India presence and leverages a strong branch network to provide service offerings to diverse industries including – Airports, Highways, IT/ITES and Business parks, Manufacturing, BFSI, Hospitality, Warehousing and Retail , FMCG, Residential, Hospitality, Healthcare etc.
MOPE
MOPE Investment Advisors Pvt. Ltd. (MOPE) is a subsidiary of Motilal Oswal Financial Services Ltd. (MOFSL), a diversified financial services group with businesses in Securities, Asset Management, Private Equity and Investment Banking. MOPE is currently managing two growth capital funds i.e. India Business Excellence Fund (IBEF) and India Business Excellence Fund II (IBEF II) focused on providing growth capital to mid-market companies, typically in the range of US$ 10-20 million, across sectors. IBEF, launched in 2007 is a INR 550 Crore ($ 125 million) fund and is fully invested in thirteen portfolio companies across sectors such as food processing, bulk packaging, power transformers and power infra enablers, ITES, financial services, EMS, FMCG, auto components, etc. It has already made ten exits. On the back of its success of IBEF, MOPE raised IBEF II, a Rs.950 Crore (~USD 160 million) growth capital fund. The current investment has been made from IBEF II.
Background
We are pleased to announce that our client Updater Services Private Limited (“UDS”), a leading integrated facilities management services company, has raised private equity from Motilal Oswal Private Equity (“MOPE”).
Veda Corporate Advisors was the financial advisor to UDS in this transaction. VedaCorp provided comprehensive transaction advisory services, including positioning, valuation and negotiation of definitive agreements, leading to the successful closure of the transaction.
This is VedaCorp’s fourth consecutive Private Equity transaction involving UDS. VedaCorp was the advisor in all three previous transactions in 2006, 2008 and 2015.