Kansai Nerolac – a subsidiary of Japan-based Kansai Paint Company – plans to acquire a 100% stake in Perma Construction Aids – a construction chemicals company in India. Valued at Rs 29.1 crore (about $4.16 million) in cash, the deal is subject to adjustments for borrowings, working capital and fixed assets at the closing date.
Perma Construction Aids that specializes in water-proofing, adhesives, epoxy and admixtures - exports these products to Sri Lanka, Nepal, Mauritius and Ghana.
With this acquisition, Kansai Nerolac will be able to expand its construction chemicals business.
In 2018, Kansai Nerolac acquired Marpol – a powder coatings manufacturer for Rs 36 crore ($5.53 million). In addition, it also acquired a 55% stake in Bangladesh-headquartered RAK Paints for Rs 45.81 crore (around $7 million).
At CMT’s 19th ASIA Coatings Markets on 21-22 August 2019 in Bangkok, hear on ‘M&A Potential and Opportunities in Asia’ from Nauman Malik, CEO, APAC, Kansai Paint, Indonesia.