Lakshmikumaran & Sridharan Attorneys (LKS) and KKL Partners have assisted on US-based plumbing systems manufacturer Sloan Global Holdings acquiring a controlling stake in India peer Essel Bath Fittings for an undisclosed amount.
LKS counselled Sloan Global Holdings and its Indian subsidiary, Sloan India, on the strategic acquisition in Essel Bath Fittings.
Partner Kunal Arora led the transaction team, with support from associate partner Anupam Misra, principal associate Mitushi Garg, as well as associates Jeevesh Jain and Satwik Mohapatra. Partner Karanjot Singh and associate partner Harshit Khurana led the direct tax team, providing additional support. Executive partners Shivam Mehta and Shweta Walecha led the GST team.
The firm advised on the transaction structure, cross-border regulatory aspects, GST and direct tax implications, and the drafting, negotiation and finalisation of transaction documents.
This inorganic acquisition would help Sloan’s expansion into the B2C market in the Indian subcontinent, especially in the premium and mid-segment bath fittings space, by leveraging Essel’s manufacturing capabilities and distribution network to meet growing demand driven by urbanisation and housing growth, LKS said.
KKL Partners advised Essel and its promoters, with founding partner Aashish Vats and associate Mansi Malik leading the team.
Sloan Global Holdings is a leading manufacturer of commercial plumbing systems, specialising in water-efficient products such as flushometers, taps and soap dispensers.
Essel manufactures high-quality bathroom fittings and offers a wide range of products combining style and functionality.
