Ion Exchange (India) announced on 20 April 2023 that its Board of Directors has approved a proposal to invest in and acquire a Portuguese company named MAPRIL – Produtos Químicos e Maquinas Para a Industria, Lda.
The acquisition will be made by purchasing 11,11,500 equity shares, which represents 100% of the issued and paid-up equity capital of MAPRIL, for a total investment of approximately Rs 240 million.
The Share Purchase Agreement is expected to be executed soon, and the transaction is scheduled to close by the end of June.
MAPRIL is primarily involved in the business of water treatment, chemicals, and equipment. With this acquisition, Ion Exchange aims to strengthen its position in the industry and expand its footprint in the European market. This investment aligns with Ion Exchange’s strategy of growing its business globally and diversifying its product offerings.