BWI: Zephyr buys Stake in Trimax

Press release from Business Wire India
Source: Trimax
Thursday, October 07, 2010 10:01 AM IST (04:31 AM GMT)
Editors: General: Consumer interest; Business: Banking & financial services, Business services, Financial Analyst, Information technology, Telecommunications; Technology
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Zephyr buys Stake in Trimax
Trimax Set to Grow over 40% over the Next Two Years

Mumbai, Maharashtra, India, Thursday, October 07, 2010 -- (Business Wire India) -- Private equity (PE) firm Zephyr Management, L.P., has invested $10 million (Rs.45 crore) in Trimax IT Infrastructure and Services Ltd, an end-to-end IT services and solutions provider of System Integration, Data Center services, BSNL Managed Enterprise Services and IT Infrastructure Management, through its India investing arm Zephyr Peacock India Funds, for an undisclosed minority stake. Trimax IT Infrastructure & Services Ltd. has presence at more than 600 locations across India including 13 branches in major cities with more than 2400 professionals.

"We plan to use this investment from Zephyr to strengthen our team additionally by 1,000 to 3,000 people over the next six months and to advance operations in country" said Surya Prakash Madrecha, Chairman and Managing Director, Trimax.

Trimax IT Infrastructure & Services Ltd., has seen 61.37 per cent jump in sales for the year 2009-10, coupled by expanding capabilities and strategic sales. The company's profit increased 84 per cent from the year 2008-09.

"Trimax is poised to grow faster than 40% over the next two years, up from 34% in the past three-four years. More importantly, the earnings will grow faster than revenues because margins are getting better. Its EBIDTA (earnings before interest, tax, depreciation and amortization) is increasing by 50%," said Zephyr managing director Mukul Gulati.

Trimax has proven expertise in IT Services and efficiently provides customer-centric services to several large enterprises. Trimax's growth is a result of several outstanding projects undertaken by Trimax for the public and private sector banks like Central Bank of India, Axis Bank and Bank of Baroda in partnership with BSNL. Trimax has also proven Data Center building capabilities by developing the 1.2 Lakh sq. ft. tier - III Data Center for ITI Limited in Bangalore. It is providing Data Center services to companies like Canara Bank, IBM India, L&T Infotech, GE India Technology Center Limited, Indian Oil Corporation Limited and Tata Teleservices Limited in partnership with ITI Limited.

Developing and implementing end-to-end solution for On-line Reservation System and Electronic Ticket Issuing Mechanism (ETIM) for Maharashtra State Road Transport Corporation (MSRTC) also played a vital role in achieving such growth figures. Trimax also provided the required connectivity and infrastructure to MSRTC in this project which has been taken up on a BOT model for 6 years including training MSRTC employees on the introduced technology.

Trimax is also serving transportation giant Brihanmumbai Electric Supply & Transport Undertaking (BEST) in their modernization phase on a BOT project for 5 years. Trimax is replacing BEST's conventional ticketing system by Electronic Ticket Issuing Mechanism (ETIM), providing provision of the on-line Group Booking/ Reservation facility and developing 150 Point of Sale (POS). Trimax is supplying 7,500 Nos 3-way RFID ETIM machines, 10 lakh RFID Bus Passes, 360 lakh Thermal Paper Roll and establishing Data Center with hardware, software, connectivity and other accessories along with 300 operators for all POS with Onsite IT Infrastructure management engineers at depot level. Trimax is also training BEST employees on the automation.

The road transport solution of Trimax is well capable of handling more than 1 Cr passengers daily including 60 lakh passenger of MSRTC and 40 lakh of BEST. "The road transport solution is our another focused business where we are expecting good response from Road Transport Corporations for their need of automation of Ticketing and Reservation Systems along with service processes. The Data Center services and Data Center Build capabilities are going to play dynamic role in our growth further and we are already getting encouraging response from the market," Madrecha added. "We are penetrating system Integration market and building Data Centers for few state government organizations such as electricity boards, state police, state beverages corporations and 31 Data Centers for Life Insurance Corporation of India (LIC)." Madrecha further added.

About Trimax

Trimax IT Infrastructure & Services Ltd. (Trimax) is a leading End-to- End IT Services and Solutions Provider offering Data Center set-up, Management and Operational Services, System Integration and Managed Infrastructure Services. Trimax is a partner to Bharat Sanchar Nigam Limited (BSNL) and offers Managed Network Services from its ISO 9001 and ISO 27001 Certified Network Operations Centre (NOC) running in Mumbai and Bangalore.

With over 2,400 qualified technical professionals, and a well-qualified and ITIL-certified technical team, Trimax services its customers through its reach at more than 600 locations across India including Talluka level, and its headquarters in Mumbai. The company aims to be the preferred technology integration, management and solution company for its global customers.

About Zephyr

Zephyr Peacock India Fund (Peacock or Fund) seeks to make private equity investments targeting India's fast growing small and middle market corporate segment. In addition to providing capital, Zephyr Peacock seeks to add value to our portfolio companies by leveraging its global relationships in the international corporate and financial markets. The Fund's management team, based in Bangalore and New York, combines local and international private equity expertise and has many years of investment and operating experience.


CONTACT DETAILS
Mr. Avinash Rai, Trimax, +91 9987705642, avinash@trimax.in
Pallavi Bordoloi, 20:20 Media, +91 9867696467, Pallavi@2020india.com
Sushil Megharaj, 20:20 Media, +91 9820174780, sushil@2020india.com

KEYWORDS
CONSUMER, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TELECOMMUNICATIONS, TECHNOLOGY

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