26 Nov 2008 07:00
26 November 2008
Mortice Limited
("Mortice" or "the Company")
Appointment of Chief Strategy Officer
Mortice Limited, (AIM:MORT), the Singapore-headquartered security and facilities management company, has announced the appointment of Vipin Mittal as Chief Strategy Officer of Tenon Property Services Private Limited ("Tenon"), the Group's facilities management subsidiary. This is a significant appointment in the context of Mortice's inorganic growth plans. Mr. Mittal will lead Tenon's M&A practice, which ranges from the identification of targets and management of the acquisition process through to the integration and realization of business synergies.
Mr. Mittal, who has over 13 years of experience in managing complex financial transactions for global companies, has a very successful background in international business and management of both upstream and downstream international acquisitions. He joins Tenon from Caparo Group, a global manufacturer of steel, automotive and engineering products, where he was Director of the Private Equity and M&A practices. He was responsible for managing the complete acquisition process as well as business valuations and fund raising road shows on the private equity side.
Prior to this Mr. Mittal was responsible for leading acquisitions and business strategy at GIKIL-Bosnia, a subsidiary of Global Steel Holdings. He has also worked for Thailand-based Polyplex as Head of Finance and successfully raised large funds for new projects. He also spent a period of his career as Chief Manager of finance and strategy at Bennett Coleman & Co, one of India's largest media houses.
Manjit Rajain, Chairman of Mortice commented:
"We are delighted to have Mr. Mittal join Tenon. His strong experience in both upstream and downstream integration and handling financing activities for leading companies will be invaluable in assisting Tenon secure appropriate acquisitions, investment and strategic opportunities. His skills and knowledge from handling international transactions will play a key role in the company's expansion in India and further into South Asia."
For further information please contact:
Mortice Limited
Manjit Rajain, Executive Chairman Tel: +91 981 800 0011
Andrew Barker, Executive Director Tel: +91 974 130 9401
Grant Thornton UK LLP
Fiona Owen Tel: +44 207 383 5100
Jermyn Capital Partners PLC
Dharmesh Doshi Tel: +44 207 399 2020
Pelham PR
Alex Walters / Charles Goodwin Tel : +44 203 159 4399
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.