M&A
Carborundum to acquire Germany's Rhodius Abrasives for Rs.464-Cr
Chennai-based, publicly listed abrasives and industrial ceramics maker Carborundum Universal Ltd (CUMI) is to buy a 100% stake in Burgbrohl, Germany-based Rhodius Abrasives at an enterprise value of EUR 55 million (about INR 464 crore). Investec was the exclusive financial advisor to CUMI and CapitalMind represented Rhodius on the transaction. Rhodius Abrasives has been manufacturing high-performance tools for the machining of metals and stones, which are used in over 100 countries worldwide, since 1952. In 2021, the company, which employs more than 300 employees globally, generated revenue of EUR 62.5 million (about INR 535 crore).
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