Rexel Acquires 75% Stake in Yantra Auto
Rexel, a €12-billion distributor of electrical supplies, has taken up a 75% stake in the Punebased Yantra Automation for an undisclosed amount. This is Rexel’s first Indian tie-up and it could acquire another company for a wider footprint in the country. Yantra is a . 100-crore supplier of automation-andcontrol products and services to industries in western India. The tie up was facilitated by Rockwell Automation, a global supplier of industrial automation control and information solutions which has a channel partnership with Rexel in several countries.
HOV Services to Merge with SourceCorp
BPO firm HOV Services and US-based SourceCorp, a portfolio company of the private equity Apollo Management, have agreed to merge to form a combined entity — SCH Services. Shareholders of HOV Services, an arm of HOV Services, and SourceCorp will hold 50% each in SCH after regulatory approvals. HOV Services has 8,750 associates and SourceCorp has 5,500 employees. For the twelve months ended December 31, HOV had revenues of $159 million and SourceCorp $322 million.
Rexel, a €12-billion distributor of electrical supplies, has taken up a 75% stake in the Punebased Yantra Automation for an undisclosed amount. This is Rexel’s first Indian tie-up and it could acquire another company for a wider footprint in the country. Yantra is a . 100-crore supplier of automation-andcontrol products and services to industries in western India. The tie up was facilitated by Rockwell Automation, a global supplier of industrial automation control and information solutions which has a channel partnership with Rexel in several countries.
HOV Services to Merge with SourceCorp
BPO firm HOV Services and US-based SourceCorp, a portfolio company of the private equity Apollo Management, have agreed to merge to form a combined entity — SCH Services. Shareholders of HOV Services, an arm of HOV Services, and SourceCorp will hold 50% each in SCH after regulatory approvals. HOV Services has 8,750 associates and SourceCorp has 5,500 employees. For the twelve months ended December 31, HOV had revenues of $159 million and SourceCorp $322 million.
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