Thu, 23 Feb 2023 | BUSINESS NEWS
Quarried materials group SigmaRoc has raised around £30 million in funding, which it will use to finance a growth plan which includes a significant pipeline of strategic acquisitions. The fundraising was conducted through a placing to institutional investors, as well as an offer to retail investors.
The company says that it has a pipeline of ten potential near-term strategic acquisitions, reflecting a total consideration of approximately £39 million. SigmaRoc adds that this pipeline includes deals that would be complementary to each of its key regions.
SigmaRoc Chief Executive Max Vermorken said: "I am pleased to see many of our existing shareholders continuing to support SigmaRoc and our buy-and-build strategy. The strong level of demand from new and existing investors underpins confidence in our plans for the future.”
"We have identified a strong pipeline of acquisitions as well as organic growth opportunities that this funding will help us to deliver and we look forward to updating our shareholders on our progress in due course."
Along with its pipeline of potential acquisitions, the company has also identified four organic growth and carbon footprint reduction projects at a total investment of around £8 million. Collectively, the company forecasts that the acquisitions and organic growth opportunities will generate £42 million in net revenue, £10 million in EBITDA and £6 million in post-tax profits on an annualised basis, providing they all complete.
In addition, SigmaRoc is also commencing a disposal programme, through which it is looking to divest three non-core assets, generating a total consideration of around £9 million.
Read our top tips for finding M&A value during an economic downturn.
Find businesses for sale here.
If you are looking for an exit, we can help!
The company provides a comprehensive range of building construction solutions, including insurance repairs, joinery, new builds, and refurbishment. Additionally, it offers project management alongside construction, design and management services.
RELOCATABLE
Retirement sale after many years in the industry. Very well established and one of the Cities go to Glaziers. Well regarded by commercial businesses including national clients. 3 modern vehicles included. Leasehold premises with new lease. Extensive...
LEASEHOLD
Spacious industrial unit incorporating workshop, numerous offices, glass fronted reception with toilet and kitchen facilities.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.