HomeBrand UpdatesAcrysil to acquire UK based kitchen accessories manufacturer

Acrysil to acquire UK based kitchen accessories manufacturer

Acrysil UK Limited, a wholly owned subsidiary of leading global manufacturer of “Composite Quartz Kitchen Sinks” with German Technology, Acrysil Limited, will to acquire 100% shares of ‘Tickford Orange Limited’ (TOL), UK along with its wholly owned operating subsidiary ‘Sylmar Technology Limited’ (STL). STL is a manufacturer, distributer and customizer of high-quality solid surface products for kitchen and bathroom, for both domestic and commercial purposes for markets across United Kingdom.

STL has 3 key brands Maia, Minerva and Metis. Its manufacturing and distribution facility is centrally located in Alfreton, Derbyshire, UK. It’s a leading player in the UK solid surface market with an estimated 35% market share. It generates 80% of its revenue from sale of kitchen products and remaining from bathroom and marine related products. STL had a turnover of £14m in each of the two years leading up to the Covid-19 pandemic with the turnover for the CY20 (Covid impacted) being £11m. Further, for the CY21 (Covid impacted) STL had a turnover of £12m. STL is profitable and benefits from solid financial base and continued growth.

STL has an excellent relationship with its suppliers and purchases materials globally, benefiting from a range of quality materials being supplied. STL has a strong existing operational management team in place which runs the business operation on a day-to-day basis. The Company has longstanding customer base consisting of leading high street names including Selco, Homebase, Hafele, Magnet, Moores, Fairline etc. STL has been built on an ethos of ‘customer service without compromise’ – STL enjoys strong customer relationships and has worked with its largest customers for a significant number of years.

Acrysil UK will acquire 100% equity shares for a total consideration £11m. The acquisition will be funded through mix of debt and internal accruals. The acquisition is in line with Acrysil strategy to establish itself as a dominant player in the global kitchen and bathroom segment.

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