SigmaRoc's proposed €470m acquisition of Nordkalk, Reverse Takeover and successful £260m placing

Strand Hanson is pleased to have advised SigmaRoc plc, the AIM quoted buy-and-build construction materials group, on its proposed acquisition of Nordkalk Oy Ab for a total consideration of approximately €470 million.

The proposed acquisition is deemed a reverse takeover and as such, is subject to, inter alia, shareholder approval at its upcoming general meeting. The acquisition will be funded in part by SigmaRoc's successful £260 million placing with institutional investors and a £305 million debt facility with a banking syndicate led by Santander.

Nordkalk was established in 1898 as a limestone developer in Finland and has since expanded across Northern Europe to become the leading limestone company in the region. Nordkalk develops limestone-based solutions for agricultural, construction and chemical industries and its main products are crushed limestone, limestone powder, quicklime and hydrated lime.

The Enlarged Group would be a market-leading quarried materials group in Northern Europe, operating across six platforms, with 37 quarries and 76 operations across 13 countries, pro forma total assets of £740 million, over 1 billion tonnes of Reserves and Resources, and approximately 1,760 employees.

Stand Hanson is acting as Financial and Nominated Adviser to SigmaRoc and Peel Hunt, Liberum Capital and Numis Securities are acting as Joint Bookrunners.

James Spinney, Head of Capital Markets, Strand Hanson: “We first began advising the SigmaRoc management team when they took control of a small shell company in 2016 and we feel privileged to have worked with the team whilst they have built an impressive business with scale across a number of geographies.”