India Value Fund, GoodLife Products buy ISS Hicare
Moneylife Digital Team 30 January 2014

GoodLife Products, the Mahendran Holdings unit with help from IVFA has bought back ISS Hicare, the second largest pest control services provider in the country, from Danish ISS Global for an undisclosed sum

India Value Fund Advisors (IVFA) has partnered with GoodLife Products Ltd, a group company of Mahendran Holdings Ltd, to acquire ISS Hicare Pvt Ltd for an undisclosed sum. ISS Hicare is owned by ISS Facility Services India Pvt Ltd, the Indian unit of Danish multinational ISS World Services A/S.


Vikram Nirula and Haresh Chawla from IVFA will join as directors on the Board of GoodLife Products and Mahendran will be serving as the company's chairman.


"The Indian consumer deserves the utmost safety and efficacy in pest control services - we have many ideas on how to transform and invigorate the industry.  Hicare is well-positioned to provide a global standard of pest control services to the Indian consumer," said Mahendran, chairman of Mahendran Holdings Ltd.


ISS Hicare was founded by Godrej Industries and Mahendran Holdings in 2004 to provide pest control services to residential customers in Mumbai, eventually expanding to become a pan-India player serving both residential and commercial customers. It was acquired by Danish multinational ISS Global in 2009 and is now India's second largest pest control services provider.

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