Firepro systems eyeing inorganic growth
Bangalore-based Firepro Systems Private Ltd (Firepro) looks at inorganic route to fuel its business growth. Having concluded their second round of fund-raising from Standard Chartered Private Equity Ltd (SCPEL) , the integrated safety and security services provider has identified potential companies for a possible acquisition. The Firepro management will use part of the Rs 150 crore raised from SCPEL to finance the acquisitions.The Firepro management believes that possible acquisitions would depend on what is it that the companies bring to the table.
Globally, a lot of emphasis is being laid on safety and security of residential buildings, commercial establishments, industrial establishments, infrastructure projects like airports etc. And in a market where large ticket size deals seldom happen, Standard Chartered PE has gone ahead and placed a fairly large sum for a significant minority stake.
Competing with multinational giants like Tyco Fire & Security. Honeywell and Chubb Fire & Security in addition to home grown companies like Zicom, Firepro has been registering a compounded annual growth rate (CAGR) of 97% over the last 7-odd years. “Last year was a tough one though. But we still grew by 25% in such a non-favourable business environment,” said the dynamic company COO, M C Muthanna.
Firepro is definitely going to heat up the Indian growth engine with the aggressive plans underway.