Symphony Ltd has signed an agreement to purchase ~95% equity stake in Australia based Climate Technologies Pty Ltd (CTPL) for an enterprise value of | 201-221 crore (based on FY18 EBITDA). The company plans to finance the acquisition through a mix of debt (| 121 crore) and internal cash accruals (| 76 crore). Started in 1979, CTPL manufactures and sells evaporative air coolers (topline contribution of ~54%), ducted gas heaters (topline contribution of ~40%) and other cooling products (like air conditioners) in Australia and US. With the strong brand of Bonaire' and...