Press release:

Weatherseal announces partnership with Asian Paints

Weatherseal is delighted to announce that it has entered into a definitive agreement with Asian Paints, wherein Asian Paint shall acquire 51% stake in Weatherseal. Leading paint manufacturer has entered into definitive agreements with  Weatherseal Fenestration promoters Harish Munireddy and Pratibha SB to an infusion of Rs 19 crore for a 51% stake through the subscription of the  share capital of the company.

It is also agreed to acquire an additional 23.9% stake in Weatherseal Fenestration from its promoters, staggered over the next 3 years. Harish Munireddy will continue as CEO and Pratibha SB as COO of Weatherseal Fenestration, further leading credibility to this association with Asian Paints, adding that after the acquisition, Weatherseal Fenestration will be a subsidiary of the company.

Weatherseal is one of the leading brands in the uPVC windows and doors domain and has  established a respectable presence in the retail and project client segment, primarily in South India. As part of Asian Paints' efforts to become an integral part of the home decor industry, this space is attractive in the retail and B2B market segment. This association will widen offerings in the home decor space

Our web platform, www.weatherseal.com, displays our range of offerings with specifications, dimensions, and color customizations available for  customers to select from to transform spaces and build dream homes.  It provides easy access to contact us 24*7. Our strong online presence is complemented by our excellent  network of stores in many key  and nearby urban areas. With a dedicated team and CRM system for updates and notifications to smooth down the communication, installation process and post-sales activities.

The partnership with Asian Paints gives a new impetus to our company. We believe that in partnership with Asian Paints, we will be able to better serve our customers  with outstanding designs and premium products. The partnership will also allow us to expand our  network of stores and thus be able to reach  and show our products to wide varied and more customers.

EY INDIA Investment Banking Advisory assisted this strategic acquisition to the shareholders of Weatherseal on the transaction.