Bengaluru-based enterprise support and managed services company SuperSeva Services Pvt. Ltd has acquired Delhi-based concierge services provider Enhance Your Life (EYL) in a cash-and-stock deal.
EYL founder Vivek Chadha will get a significant minority stake in SuperSeva as part of the deal, according to a statement by investment bank Proficio Advisors, which acted as the financial adviser to the buyer. It didn’t disclose the value of the deal.
Kumud Sharma, chief executive of SuperSeva, said Chadha along with 30 employees have joined the Bengaluru company.
Chadha is now a vice-president at SuperSeva and is responsible for the company’s north India business.
The acquisition helps SuperSeva strengthen its position in the concierge business in north India.
“EYL has a great team and they have built a good client base and interesting business,” said Sharma.
Incorporated in 2000, SuperSeva offers employee concierge services, enterprise asset management, travel desk services and managed front office services.
It has customers in the IT, ITeS, manufacturing, consumer goods and financial services segments. It claims to provide services to more than 100 clients across 18 cities in India.
SuperSeva, along with related entity SuperSeva Global Services, recorded revenue of Rs 29.6 crore for the year ended March 2018. Sharma said the company expects revenue to touch Rs 40 crore for the current financial year.
Source: VCCircle, 18th Nov 2018