In a significant move within the ceramics industry, Shardul Amarchand Mangaldas & Co. has facilitated the acquisition of a controlling stake in Nahar Colours and Coating Private Limited by Pigments Spain S.L., a subsidiary of the Altadia Group. Nahar Colours specializes in the production of ceramic frits, engobes, and compound glazes essential for ceramic tile manufacturing in India.
The Altadia Group, headquartered in Castellon, Spain, boasts ownership by The Carlyle Group and ranks among the largest global producers of intermediate products for ceramic tiles. This acquisition is poised to enhance Pigments Spain’s footprint in the burgeoning Indian and Asia-Pacific markets, reinforcing its global presence in the ceramics sector.
The advisory team from Shardul Amarchand Mangaldas was led by partners Abhishek Guha and Tanya Uppal, alongside senior associates Amrita Ghosh and Akanksha Khare. The due diligence was meticulously managed by a robust team that included Mukul Baveja and Madhur Chopra among others, ensuring a comprehensive assessment of the transaction.
Real estate and infrastructure matters were expertly handled by Radhika Dudhat and V.R. Neelakantan, with additional guidance from teams at Latham & Watkins and PricewaterhouseCoopers on tax and valuation issues. Meanwhile, Khaitan & Co. provided legal counsel to Nahar Colours and Coating Private Limited, completing a well-rounded advisory effort for this strategic acquisition.
