M&A

M&A

HIL to acquire pipes & fittings brand Topline for Rs.265-Cr

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Publicly-listed HIL Ltd, a building materials maker and part of the CK Birla Group, has signed an agreement with Crestia Polytech for the acquisition of Topline , a brand of pipes and fittings in Eastern India along with Crestia’s four wholly owned subsidiaries Topline Industries, Aditya Polytechnic, Aditya Industries and Sainath Polymers, for INR 265 crore. Singhi Advisors was the financial advisor to HIL for this transaction.With the acquisition, HIL will have additional capacity of about 83,500 MTPA to cater to the eastern states of India and offer customer access along with government approvals to HIL in relevant products and geographic segments. The deal will help HIL enter into new product segments including HDPE pipes and fittings, electro fusion fittings and water tanks.Crestia and its subsidiaries, with an estimated turnover of INR 330 crore in FY 24, are strong players in the pipes, fittings and water tank sector with three brands namely Topline, Rockwell, and Soniplast.