SigmaRoc plc

Deal Alert: PKF supports acquisition and admission to AIM

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We are delighted to have supported SigmaRoc plc on their acquisition of certain European lime businesses from CRH plc for an initial consideration of €745m, with a call option to acquire two further assets for €225m. The acquisition constitutes a reverse takeover due to its size and we have supported in the required AIM re-admission process. Assuming the exercise of the call options, pro forma revenue surpasses £1 billion for 2022.

SigmaRoc has partially funded the acquisition through raising gross proceeds of £200 million through a placing of 418,464,565 new ordinary shares at a price of 47.5 pence 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.

“This was the third RTO that PKF have 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 work with us to achieve what needs to be done in the most efficient and cost-effective way possible.”

Garth Palmer, CFO
SigmaRoc plc

PKF acted as reporting accountant on the transaction and the Capital Markets team included Adam Humphreys, Joseph Baulf, Lauren Haslam, Jamie Legge and Matthew Willetts.

Find out more about how our Capital Markets team can support you and your business here