Tenon acquires UK-based Office & General Group for Rs 65 cr

Tenon Group, which is engaged in security and facility management businesses, on Wednesday said it has acquired UK-based Office & General Group for about Rs 65 crore. Barclays Bank has provided the necessary funding support, Delhi-based Tenon group said in a statement. Tenon announced "the 100 per cent acquisition of Office & General Group Ltd (O&G), UK's leading independent facility management service company, for 6.5 million pounds (approx Rs 65 crore), in cash and equity deal".

O&G is a 27-year-old company dealing with commercial and office facility management encompassing soft and hard services. Tenon said that the acquisition is part of company's strategy to expand its presence globally and this would help in not only adding a growing revenue stream but also augment the service delivery capabilities. "With the acquisition of O&G, the Tenon Group has catapulted its way above Rs 1,000 crore mark," it added.

The synergy of competencies will provide the clients with greater level of service and support through the merging of resources and vast combined experience. This acquisition will bring to the Indian sub-continent the access to better control and international systems and processes from an established market. Tenon has a strategic business expansion plan across Asia while having established its footprints in Saudi Arabia, Sri Lanka and Singapore.

It is spread across India with over 45,000 employees in 67 branches, providing services to more than 1,200 clients.