Uniply Industries acquires Vector Projects for Rs 64 crore

Uniply Industries has acquired Vector Projects for Rs 64 crore. This will lead to an architecture, design and interior fit company to provide end-to-end building solutions. The transaction involves a Rs 23 crore stock swap with shares of Uniply and a Rs 41 crore cash payout funded by Uniply’s promoters and other participants through a private placement. This venture will expand opportunities for both companies by making Vector Projects a wholly-owned subsidiary of Uniply Industries.    It is known that both, Uniply and Vector, have a range of expansion plans that can be realised through this deal as it creates a single large entity that potentially doubles their business size. Uniply has a diversified range of products including plywood, laminates, veneers, adhesives and wooden floor tiles will support Vector’s business growth in providing turnkey interior solutions. It caters to commercial space spanning IT, pharma, financial institutions and manufacturing sector. Vector, which has prefabrication and interior products production facilities in Bhandup and Pen in Maharashtra, plans to expand into residential interiors in a big way.    Plans for residential interior products that will be sold online are also in plans. Uniply gives its raw material security and reach to new markets with its network of 900 dealers. Vector Projects provides end-to-end architectural design and interior fit out companies and had Rs 210 crore of revenue in the last financial year.