After closing its latest round of private equity fund-raising, A2Z Maintenance and Engineering Services Pvt. Ltd. has acquired controlling stake in CNCS Facility Solutions Pvt Ltd, a Mumbai-based facilities management services company. CNCS, which provides housekeeping, security and maintenance services, has a head count of 2,500 employees serving clients like NDTV, ICICI Securities, Larsen & Toubro and State Bank of India.
This will be the second M&A transaction in the facilities management space this year. In June, Tenon Property Services, a subsidiary of Singapore-headquartered Mortice Ltd, acquired Delhi-based Rotopower Projects Pvt Ltd for Rs.10 crore. The sector has also witnessed an interest from PE players with companies like BVG India and Radiant Hospitality getting funding recently from Kotak Private Equity and Lighthouse Funds, respectively.
