Uniply Industries, a manufacturer of plywood, laminates and related products, has acquired Vector Projects, an architecture, design and interior fit out company to provide end-to-end building solutions.

The ₹64-crore acquisition makes Mumbai-based Vector Projects, a wholly-owned subsidiary of Uniply Industries. This is a novel association that expands the opportunities for both Uniply and Vector Solutions by bringing together the building materials and solutions provider, according to Keshav Kantamneni, Chairman and Managing Director, Uniply. 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, he said.

The transaction involves a ₹23-crore stock swap with shares of Uniply and a ₹41 crore cash payout funded by Uniply’s promoters and other participants through a private placement.

As a subsidiary, Vector will continue to be run by its founder and CEO Umesh Rao. Uniply which 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. With branches across India and 350 architects, engineers and interior designers, Vector is among the few organised players in the business.

Rao said 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.

Also in the pipeline are plans for residential interior products that will be sold online. Uniply gives its raw material security and reach to new markets with its net work of 900 dealers.

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