TeamLease Services (TLS), established in 2002, is one of India’s leading human resource service companies in the organised sector. The company provides employment and employability and education services to various industries.
TLS’s employment services include staffing solutions, recruitment services and compliance services, whereas its employability offerings include different types of learning and training solutions for retail, institutional and enterprise customers.
TLS has its presence in eight locations, with over 2,500 clients and 1,400 employees across the country. The company, in partnership with the Government of Gujarat, set up Team Lease Skills University (TLSU) at Vadodara, which was India’s first vocational university. In FY15, the company rolled out National Employability through Apprenticeship Program (NETAP) to provide on-the job training to apprentices. At the end of Q3FY18, TLS had over 175,000 associates/trainees spread across the country and had given employment to over 1.6 million people.
TLS, which got listed on the bourses in February 2016 after an initial public offering (IPO) that saw huge investor response, has been on an acquisition spree in the past two years. The company had said that it planned to use part of the proceeds from the IPO for acquisitions. In FY17, the company acquired ASAP, Nichepro and Keystone (high margin IT staffing) which is expected to be margin accretive; The IT staffing business has about 15 percent margin vis-à-vis about 1.5 percent of general staffing business. In May 2017, the company finalised a deal to acquire a 30 percent stake in Bengaluru-based Cassius Technologies, which runs job site Freshersworld. In Oct 17, TLS made a deal to acquire Evolve Technologies, a Pune-based staffing firm, to enter the specialised telecom staffing space. Further, in December 17, TLS completed 40.2 per cent stake acquisition in online learning company Schoolguru Eduserve to accelerate its employability strategy. The company’s recent acquisitions to foray into new verticals will aid company's growth going forward.
This story is from the May 14, 2018 edition of Dalal Street Investment Journal.
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This story is from the May 14, 2018 edition of Dalal Street Investment Journal.
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