SigmaRoc agrees on a 402 million deal

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SigmaRoc, the AIM-listed buy-and-build building materials group with stakes in Wales, has conditionally approved the takeover of Nordkalk, a wholly owned subsidiary of the Rettig Group, for around GBP 402 million.

Nordkalk was founded in Finland in 1898 as a limestone developer and has since expanded throughout Northern Europe. It develops limestone-based products for agriculture, construction and the chemical industry and its main products are limestone quarry, limestone powder, quicklime and hydrated lime.

Sigma Roc, which completed the 2020 acquisition of Welsh quarry company GD Harries, is acquiring approximately 260 million new shares in Rettig.

The takeover is a reverse takeover.

Max Vermorken, CEO of SigmaRoc, said: “The acquisition of Nordkalk, Northern Europe’s leading limestone products company, is a great stepping stone in the development of our group and expands our presence in the Northern European markets.

“We have agreed to buy a high quality company at what we believe is the right time in the cycle and at an attractive valuation.”

Chief Executive Officer David Barrett added: “Nordkalk is a great company with a significant presence across Northern Europe. It is a company with a long history of success and great future potential. This acquisition would open numerous new opportunities for SigmaRoc to benefit from in the months and years to come. I am pleased about the commitment of the Rettig family to become shareholders of SigmaRoc. This is a strong vote of confidence in the future of our group. “

Peel Hunt, Liberum Capital and Numis Securities are acting as joint bookrunners of the placement. Strand Hanson is serving as nominee and financial advisor to SigmaRoc.



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