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    SILA acquires Forbes Facility Services from the Shapoorji Pallonji Group in an all-cash deal

    Synopsis

    With this acquisition, SILA’s facilities managing services business will strengthen its presence in North India. The combined entity is expected to clock over Rs 600 crores in revenue this year. SILA has paid Rs 42 crore for this deal.

    realtyAgencies
    Real Estate platform SILA, has acquired Forbes Facility Services from the Shapoorji Pallonji Group in an all-cash deal, Rushabh Vora, Co-Founder & CEO, SILA told ET.

    With this acquisition, SILA’s facilities managing services business will strengthen its presence in North India. The combined entity is expected to clock over Rs 600 crores in revenue this year. SILA has paid Rs 42 crore for this deal.

    “This deal will also help expand our portfolio within the high-growth sectors of Industrial, Manufacturing & Warehousing across India,” Vora said.

    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.

    “We have been a part of the Shapoorji Pallonji group which provided a rich background of lineage, policies, and support. With this deal, we now look forward to our partnership with SILA, a progressive company that has scaled rapidly,” said Vinay Deshmukh, CEO Forbes Facilities Services.

    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.

    SILA, a real estate platform started in 2010 is backed by Norwest Venture Partners and Samara Capital Group in their real estate services and development/asset management arms, respectively.

    SILA has advised on over $1.5 billion of real estate transactions for large global and domestic funds and acting as development manager for projects with gross development value of more than Rs 15 billion in the Mumbai Metropolitan Region.


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