Carysil informed the exchange that it sought to acquire a 70% stake in UK-based The Tap Factory Ltd (TTFL).
The Tap Factory designs and sources bathroom and kitchen products, and instant boiling water taps.
This acquisition help Carysil get access to high-end premium designs of faucets and TTFL’s existing customers.
TTFL’s e-commerce business is also a goof addition to Carysil’s portfolio.
The Tap Factory had a turnover of 1.5 million pounds in CY 2022.
Carysil acquired a 70% stake for 1.16mn pounds i.e., 70% of the total enterprise value (TEV) of 1.65mn pounds. The balance 30% can be acquired at an enterprise value (EV) based on six times multiple of EBITDA (earnings before interest taxation depreciation and amortisation) of the next two years.
The acquisition is being done byr Carysil UK Ltd, a wholly-owned subsidiary.