Chennai, November 25, 2021: Xcelerate Pte Ltd today announced a strategic equity partnership with Aparajitha Corporate Services Pvt. Ltd. (Aparajitha), a leading Compliance Services solutions provider in India, by acquiring a controlling stake. Xcelerate Pte Ltd (Xcelerate), a Singapore headquartered platform, is creating a Governance, Risk and Compliance (GRC) investment and operational organization to offer comprehensive GRC solutions to clients across markets with a strategy to grow both organically and through acquisitions.
Xcelerate has made this investment through XLSure India Pvt. Ltd., its wholly owned Indian subsidiary.
Aparajitha is the market leader in India with solutions relating to Employee and Contract Labour Law, Shops & Establishments Act, Factories Act, Industrial Licenses, Mines & Minerals Act and Payroll processing and related compliances, covering over 170+ acts and 5,700 + compliance tasks. It is truly a pan India player with offices / branches/ direct presence in 145+ locations across India catering to the statutory and regulatory requirements of over 1500 + clients in the identified segments. Aparajitha’s clientele includes large MNCs, leading financial institutions, reputed conglomerates and many MSMEs across industries.
Aparajitha distinguishes itself in the market as a highly scalable, tech-enabled compliance solutions provider having digitised its solutions by launching “Compfie”. Compfie is a comprehensive suite covering a significant part of the entire gamut of statutory and regulatory requirements of an organisation.
Aparajitha brings strong domain and technical expertise combined with a solid market positioning consisting of reputed clientele. Xcelerate and its leadership team bring a successful track-record of integrating growing enterprises and driving technological upgrades, with the support of a strong network of capital providers. Together, Aparajitha and Xcelerate aspire to operate across industries by offering timely, cost effective and tech enabled solutions on a regional basis to create a GRC platform.
Commenting on the transaction, Dr. Bharath KS, Chairman, Aparajitha said “Aparajitha is well poised to take its expertise and skillsets to the global markets while consolidating its position in the Indian market. We believe we have found a partner who has a good understanding of the GRC segment and brings in global perspective. This partnership of Aparajitha’s domain expertise & strong client relationships combined with Xcelerate team’s management expertise and ability to integrate international operations will enable this platform to become truly global.”
Mr. Nagaraj Krishnan, Managing Director, Aparajitha said “We are very excited to partner with a team that has demonstrated roll-up/consolidation successes in multiple sectors on a global scale. Onboarding Aparajitha on to the GRC platform being built by Xcelerate, is bound to provide Aparajitha with significant market opportunities and enable further consolidation of market share in India and overseas by offering tech-enabled high quality services.”
Mr. Madhujeet Chimni, Founder, Xcelerate said “We have found a solid partner in Aparajitha to enable us realise the vision of creating a global GRC platform offering tech-based solutions to corporates. Aparajitha is a very strong player in the Indian market, and we intend to bring together complementary products, strong domain expertise, cutting edge technologies and qualified teams to create the platform.”
Ernst & Young LLP acted as the sell-side Investment banker advising the shareholders of Aparajitha along with Commercial Law Advisors (CLA), who acted as the sell-side legal counsel. Khaitan & Co. was the buy-side legal counsel and PricewaterhouseCoopers Private Limited was the buy-side financial, tax and commercial DD advisor.
About Aparajitha
Incorporated in the year 2000, Aparajitha Corporate Services Private Limited is today India’s No.1 Company for Regulatory Compliance. With a presence in all the states and union territories across the country, Aparajitha is well recognised as a Pan-India expert in dealing with the complexities in Labour Law and Industrial Law compliances. Our 1500 plus clientele ranges from startups to Industrial Giants to Multinational Companies to reputed Corporate houses across 100 Plus Industries.
Aparajitha’s cost-effective solutions are designed and monitored by 1300 plus compliance experts to address all the current and future compliance requirements of organisations. The operations and services are guided by professionalism and principles that stem out from Aparajitha’s core values and business ethics of integrity, trust, continuous learning, and partnering progress. The company’s goal is to build enduring long-term relationships with its clients by partnering with them for mutual growth and benefit.
This news was shared to Prittle Prattle News via press release.
