PKF supports SigmaRoc on €745m acquisition
SigmaRoc is a London-based buy-and-build group targeting construction materials assets, while CRH plc is a global, Dublin-based building materials company
PKF Littlejohn has recently advised SigmaRoc plc on their acquisition of certain European lime businesses from CRH plc for an initial consideration of €745m (£644m), with a call option to acquire two further assets for €225m (£194m).
The acquisition constitutes a reverse takeover due to its size and the firm has supported in the required AIM re-admission process. Assuming the exercise of the call options, pro forma revenue surpasses £1bn for 2022.
SigmaRoc has partially funded the acquisition through raising gross proceeds of £200m through a placing of 418,464,565 new ordinary shares at a price of 47.5p per share, and through a REX intermediaries offer of 2,588,066 new ordinary shares, also at 47.5p per share.
SigmaRoc is a London-based buy-and-build group targeting construction materials assets, while CRH plc is a global, Dublin-based building materials company.
Garth Palmer, CFO, said: “This was the third RTO that PKF has supported us on and was by far the most complex and challenging. The team at PKF delivered once again, overcoming multiple timetable and structure changes, amongst other unforeseen hurdles. PKF works with us to achieve what needs to be done in the most efficient and cost-effective way possible.”
