PE rides M&A wave in Indian security
Blackstone has been emerged as potential acquirer of Securitrans India, the cash management arm of security services provider APS group. According to local reports, a deal worth around INR150 crore ($33.6 million) has been put together for the Delhi-based company, which transports cash and other valuables for the likes of Citibank, Standard Chartered and American Express.
Should the investment go through, Blackstone would continue a trend of private equity investment in India’s security sector. ICICI Venture Funds Management injected $26.74 million in Topsgrup in 2007;...
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