Vector Projects (I) Pvt Ltd, a leading end-to-end turnkey interior solutions provider in residential and commercial spaces, has recently merged with Uniply Industries Ltd, a manufacturer of plywood, laminates and related products. The consideration of the transaction is Rs 64.12 crore.
This first-of-its-kind deal has expanded opportunities for both Uniply and Vector, by integrating them into a single, large end-to-end building solutions entity that potentially doubles their business size.
As a subsidiary, Vector Projects will continue to be run by its founder & CEO Umesh Rao; Uniply will continue to support Vector Projects’ business growth in providing turnkey interior solutions. Speaking about the acquisition, Rae said, “This one-of-its kind acquisition will create a single large entity and boost Vector’s credibility amongst its customers and in the industry. We look forward to this deal as we will get an opportunity to maintain our independent identity with strong financial backing.”
The transaction involves a Rs 23.12 crore stock swap with shares of Uniply and a Rs 40.99 crore cash pay-out funded by Uniply’s promoters and other participants through a private placement.