New Delhi, April 14 -- Fairfax-backed Bluspring Enterprises Ltd, the demerged infrastructure services arm of Quess Corp Group, has struck its second acquisition within a month, as it has now agreed to acquire the Bengaluru operations of LSG Sky Chefs India Pvt Ltd, which provides in-flight catering services to domestic and international airlines, including IndiGo, Lufthansa, Etihad, and Qatar Airways.

The deal is valued at Rs 129 crore ($13.8 million), according to a stock-exchange filing.

The acquisition will be carried out through Bluspring New Horizon Two Pvt Ltd, a wholly-owned subsidiary of the company, which has signed a share purchase agreement with Airline Catering and Retail Invest Asia Pacific Ltd and Alfred Anton Rigler.

The transaction involves the purchase of 100% equity in LSG Sky Chefs India on a fully diluted basis, with its other businesses to be carved out prior to completion. Following the deal, the entity will become a step-down, wholly-owned subsidiary of Bluspring.

The acquisition marks Bluspring's entry into the in-flight catering and aviation services segment. The Bengaluru operations include access to catering facilities at Kempegowda International Airport under a concession agreement valid until 2039.

LSG Sky Chefs India's retained business reported revenue of Rs 101 crore and a profit after tax of Rs 10 crore for the financial year ended March 2025.

Bluspring said the acquisition will complement its existing food services vertical while supporting margin expansion and long-term growth.

The deal, which will be completed through a cash consideration subject to customary adjustments, is expected to close by August 31 this year, subject to regulatory approvals and other conditions precedent.

Bluspring was spun off from Ajit Issac-led Quess Corp last year. Both companies share Fairfax as a promoter, with the Toronto-listed investment firm holding a 34.6% stake in each, according to exchange data.

In March, Bluspring agreed to buy the Indian unit of German energy company STEAG Power GmbH for Rs 180 crore to strengthen its position in India's growing power and infrastructure market, as well as select international markets, including Botswana.

Published by HT Digital Content Services with permission from VC Circle.