Carysil has agreed to acquire 70% equity shares of “The Tap Factory Limited”, based in UK and has option to acquire balance 30% in 2 tranches of 15% each in next two years. The Company designs and sources bathroom and kitchen products mainly “Instant Boiling Water Tap” that are then packaged and marketed to bathroom and Kitchen industry. This acquisition will help Carysil to develop new products (taps) and strengthen its position further in UK Kitchen and bathroom segment. Neutral
Transaction Details
• Sales for year ending Oct 2022: GBP 1.55 Mn (Rs. 15.8 Cr)
• Cost of Acquiring 70% stake: GBP 1.16 Mn (Rs. 11.8 Cr)
• EV for 100% stake translates to GBP 1.66 Mn (Rs. 16.9 Cr)
• EV/Sales multiple works out to 1.1x
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