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26 Nov 2008 07:00
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26Β November 2008
Mortice Limited
("Mortice" or "the Company")
AppointmentΒ of Chief Strategy OfficerΒ
MorticeΒ Limited,Β (AIM:MORT), theΒ Singapore-headquarteredΒ security and facilities management company,Β hasΒ announcedΒ the appointment of Vipin Mittal asΒ Chief Strategy Officer of TenonΒ Property Services Private LimitedΒ ("Tenon"), theΒ Group'sΒ facilities managementΒ subsidiary.Β This is a significant appointment in the context of Mortice'sΒ inorganicΒ growth plans.Β Mr. Mittal willΒ leadΒ Tenon'sΒ M&AΒ practice,Β which rangesΒ fromΒ theΒ identification ofΒ targets and management ofΒ the acquisition processΒ throughΒ to theΒ integration and realization of business synergies.Β
Mr. Mittal, who hasΒ overΒ 13 yearsΒ ofΒ experience in managingΒ complex financial transactions for global companies,Β has a very successful background in international business and management ofΒ both upstream and downstream internationalΒ acquisitions. HeΒ joinsΒ TenonΒ fromΒ Caparo Group,Β aΒ global manufacturerΒ of steel, automotive and engineering products, where he was Director ofΒ the PrivateΒ Equity and M&AΒ practices. He was responsible for managing theΒ completeΒ acquisition process as well as business valuations and fund raising road shows on the private equity side.
Prior to thisΒ Mr. Mittal was responsible forΒ leading acquisitions and business strategy at GIKIL-Bosnia, a subsidiary of Global Steel Holdings. HeΒ hasΒ also worked forΒ Thailand-basedΒ Polyplex asΒ HeadΒ of FinanceΒ and successfully raisedΒ large fundsΒ for new projects. He also spent a period of his career asΒ Chief Manager of finance and strategy atΒ Bennett Coleman & Co, one ofΒ India's largest media houses.
Manjit Rajain, Chairman ofΒ Mortice commented:
"We are delighted to have Mr. Mittal join Tenon. HisΒ strongΒ experienceΒ inΒ both upstream and downstream integration andΒ handling financing activities forΒ leading companies will be invaluable in assisting Tenon secure appropriate acquisitions, investment and strategic opportunities.Β His skills and knowledgeΒ from handlingΒ internationalΒ transactionsΒ will play aΒ keyΒ role in the company's expansion inΒ IndiaΒ and further intoΒ South Asia."Β
For further information please contact:
Mortice Limited
Manjit Rajain,Β Executive Chairman Β Tel:Β +91 981 800 0011
Andrew Barker, Executive Director Tel: +91 974 130 9401Β
Grant ThorntonΒ UKΒ LLP
Fiona Owen Tel: +44 207 383 5100
Jermyn Capital Partners PLC
Dharmesh Doshi Tel: +44 207 399 2020
Pelham PR
Alex WaltersΒ /Β Charles Goodwin TelΒ : +44 203 159 4399Β
Notes to Editors
Mortice, which listed on AIM in May this year is the parent company of Peregrine Guarding Private Limited ("Peregrine"), and the holding company of Tenon Property Services("Tenon") both of which are based in India (together called 'the Group').
Peregrine, founded in 1995 by Mr. Rajain, provides security services across India and services a client base of over 450 major corporate and multinational clients through a pan-India presence in 51 locations in 21 out of the 28 Indian states. These clients are in a wide range of sectors which include information technology enabled services, telecoms, manufacturing, pharmaceutical, banking and healthcare.
Tenon, which developed as a result of the success of Peregrine , provides a wide range of facilities management services to major multinational clients and has a strong management team with experience in setting-up, managing and delivering integrated facilities services to the Indian corporate and real estate sector.
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