Banyan Tree Invests In IT Infrastructure Company Trimax
Summary
Banyan Tree growth capital fund, a $125 million mezzanine fund, has invested in a Mumbai based IT Infrastructure management services company Trimax IT Infrastructure & Services Ltd for a 10% stake. The company plans to use the funds to strengthen its product and service offerings and for its capital expenditure.Apart from being a system integrator, Trimax offers managed services and tech support services by incubating new offerings like infrastructure management (including remote), network security management and data center operations. The company employs 1,500 people across 40 locations in India.Trimax executes BOOT projects for MSRTC involving computerisation of online ticketing services across 22,000 buses being run by it. It is also setting up a 1, 20,000 sq.ft data center in collaboration with ITI Bangalore to cater to customers across industry verticals.Naval Totla, Director, Banyan Tree Growth Capital Fund, has a lot of expectations from the company. So it is a very safe bet in that sense, says Totla.Mumbai-based investment banking firm Blend Financial Services Ltd acted as advisor to Trimax on the deal.Banyan Tree has previously co-invested with Dutch entrepreneurial development bank FMO in synthetic rope manufacturer Axiom Impex ltd.