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Zephyr buys $10 mn worth stake in Trimax

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CIOL Bureau
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NEW DELHI, 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, through its India investing arm Zephyr Peacock India Funds, for an undisclosed minority stake.

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Trimax IT Infrastructure and 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 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, said a press release.

“Trimax is poised to grow faster than 40 per cent over the next two years, up from 34 per cent 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 per cent,” said Zephyr managing director Mukul Gulati.

Trimax has expertise in IT Services and provides customer-centric services to several large enterprises. Trimax has carried out several projects for public and private sector banks like Central Bank of India, Axis Bank and Bank of Baroda in partnership with BSNL. The company also has data center building capabilities by developing the 1.2 lakh sq. ft. tier — III data center for ITI Limited in Bangalore.

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