New Delhi, April 9 -- British private equity firm Permira has invested around $100 million (Rs 927 crore) in facility management and real-estate services company SILA Solutions Pvt Ltd, also marking its debut transaction in India.
VCCircle was the first to report earlier this week that Permira is set to acquire about 40% stake in SILA Group.
SILA is said to be utilising the capital to fuel its expansion across India by strengthening its technology capabilities, expanding adjacent service lines and pursuing growth opportunities.
"India is creating a new generation of globally relevant, tech-enabled services companies - and SILA is among the most compelling we've seen," said Dipan Patel, co-managing partner and Co-CEO at Permira.
Permira is said to have committed over $89 billion so far and had backed over 300 businesses. The PE firm typically invests in technology, consumer, healthcare and services sectors. The firm operates around 15 offices across Asia, Europe, US and MEA, including one in Mumbai.
Founded by brothers Rushabh and Sahil Vora in 2009, SILA currently operates across over 125 cities in India, managing over 450 million square feet of real estate with a workforce exceeding 60,000.
The company delivers integrated, tech-enabled services spanning facility management, material handling, equipment leasing, food catering and real estate advisory. It serves large corporates, funds and developers across the full asset lifecycle.
"We are delighted to welcome Permira - a firm with deep global expertise in business services - as we enter our next phase of growth. Our focus is on leveraging technology to drive efficiency, transparency and service quality at scale across India's built environment," read a statement issued by the founders at SILA.
VCCircle had also reported that Norwest Venture Partners, one of the company's early backers, is likely to have exited partially as part of the transaction.
Norwest held a 45.92% stake in SILA as of March 31, 2025, making it the company's largest external shareholder. The venture capital and growth equity firm first invested Rs 56 crore in SILA in 2019 and infused more subsequently. Last year, SILA also raised funding from cricketer MS Dhoni's family office.
The company's revenue grew about 28% in FY25 to Rs 914 crore, which was more than a five-fold increase since Norwest invested in the company. On the flip side, SILA's profitability came under pressure in FY25. Its net margin, which ranged between 2.5% and 3.6% during FY21-FY23, slipped to around 1.3% in FY24 and FY25.
Earlier this year, SILA acquired SMS Integrated Facilities Services Pvt Ltd from homegrown PE firm Samara Capital for about Rs 270 crore.
Other recent deals in the sector include CLR Facility Services Pvt Ltd raising Series B funding last year from British International Investment (BII).
Published by HT Digital Content Services with permission from VC Circle.