7i Capital Advisors Advise Manpower Group to acquire Rotostat Services
Manpower Group, USA, a USD 20 bn firm acquires Rotostat Services Pvt. Ltd., – India’s foremost and fastest growing service provider of industrial services.
ManpowerGroup, USA. (“Manpower”), a USD 20 bn, Fortune500 company and a leading provider of innovative workforce solutions, connecting 600,000 people to meaningful work across a range of skills and industries, acquires Rotostat Services Pvt. Ltd (“RSPL”)., – India’s foremost and fastest growing service provider of industrial services. The company provides highly skilled and qualified personnel capable of handling & maintaining critical equipment across oil and gas, chemical, marine, power and telecom industries.
“We see this investment as an affirmation of our confidence in the growth potential of the Indian market. With this investment, Manpower+RSPL combine becomes the industrial service provider of choice for its clients. Manpower with its pre-eminent position and global presence provides a platform to serve other target markets like the MENA region”, said Mr. AG Rao, Group Managing Director, Manpower Group, India.
“Partnership with Manpower will enable RSPL to achieve its growth objectives. RSPL with its excellent customer commitment record, pan-India presence, dedicated and well-qualified team, aims to leverage Manpower’s capabilities to target a larger pie of the expanding industrial services sector in India”, said Mr. Probal Mukherjee, Managing Director, RSPL.
“Manpower and RSPL bring complementary capabilities and we see the transaction as a win-win for both parties, a philosophy that 7i believes should be the core of any transaction. This is a unique transaction in the Industrial HR services and indicates a demand for ancillary services to the core manufacturing industries” said Mr. Tapas Sarkar, Executive Director and Partner, 7i Capital.
About ManpowerGroup, USA
Manpower, a company listed on the New York Stock Exchange and a component of the S&P 400 was founded in 1948. Manpower provides workforce solutions and services worldwide. Its recruitment service portfolio offers various assessment services; career management; training and development services; and outsourcing services related to human resources functions primarily in the areas of large scale recruiting and workforce intensive initiatives. Additionally, Manpower provides workforce consulting services, contingent staffing and permanent recruitment services; and solutions in the areas of organizational efficiency; professional resourcing and project-based solutions – in information technology, engineering, and finance fields. Manpower started its Indian operations in 1997, providing permanent placement for the IT, ITeS and retail financial services sector.
About Rotostat Services Pvt. Ltd.
Established in 2009, RSPL specialises in providing industrial & maintenance services of critical equipment. RSPL provides skilled manpower for equipment maintenance, overhaul and recommissioning services for critical equipment and entire plants. RSPL differentiates itself by providing effective and speedy mobilization of personnel and is a specialist in time bound ‘shut down’ of critical plants. RSPL has executed projects in India and the MENA region.