Fox & Mandal has advised Crestia Polytech’s Topline and four other subsidiaries in an agreement that will see HIL, a flagship company in the CK Birla Group, acquire the pipes, fittings and water tank enterprises for INR2.65 billion (USD32 million).
Managing partners Debanjan Mandal and Arindam Sarkar along with associates Anwesha Sinha and Trisha Agarwala represented Topline and Crestia’s four subsidiaries – Topline Industries, Aditya Polytechnic, Aditya Industries and Sainath Polymers.
The Fox & Mandal team advised on structuring, deal documentation, negotiation and general legal matters. Directors Prashant Khandelwal and Sharad Agarwal, led the Fox & Mandal Consulting Solutions team, providing financial and tax advisory services for the transaction.
HIL’s purchase will add to the company’s goal of accelerating growth within the Indian PVC pipes and fittings market, strengthening its presence in eastern India.
Crestia and its subsidiaries, with an estimated turnover of INR3.3 billion in the 2024 financial year, are strong players in the pipes, fittings and water tank sector with three flagship brands, namely Topline, Rockwell and Soniplast.
