Business
Investment Pipeline Update and Notice of Results
Investment Pipeline Update and Notice of Results.
About this update from Sigmaroc Plc
[{"type":"text","content":"\n \n \n 10 March 2023\n \n \n \n \n \n (EPIC: SRC / Market: AIM / Sector: Construction Materials)\n \n \n \n \n \n \n \n \n SIGMAROC PLC\n \n \n \n \n \n \n (\n '\n SigmaRoc\n ', the 'Group'\n or\n the 'Company')\n \n \n \n \n \n \n \n \n Investment Pipeline Update and Notice of Results\n \n \n \n \n \n \n SigmaRoc (AIM: SRC), the quarried materials group is pleased to provide an update on its acquisition and capital investment project pipeline, set out at the time of the Group's equity fundraising which was announced on 22 February 2023.\n \n \n \n \n \n Good initial progress has been made in executing the identified transactions, with the completion of two acquisitions, for an aggregate consideration of £12m. In addition, the Group continues to trade in line with expectations, benefitting from its broad European and end market spread, and continued gains from productivity improvements across the regional platforms. Initial investment has also been made in identified organic development projects.\n \n \n \n \n \n Acquisition of Goijens Concrete Group\n \n \n The Group has completed the acquisition of Goijens, a leading supplier of ready-mixed concrete and pumping solutions, located in the north east of Belgium. The acquisition was closed at an effective multiple of 5 times\n recurring average EBITDA for the years 2020 to 2022\n , before expected synergies and operational improvements.\n \n \n \n \n \n Goijens, which generated\n £16m\n revenue in 2021, operates two concrete plants and concrete recycling facilities\n ,\n as well as pumping and other services.\n It\n s footprint, which is located in the\n n\n orth\n e\n ast of Belgium on c.10 acres of freehold land, is highly\n complementary\n to\n SigmaRoc's Benelux platform, which will enable commercial and operational synergies, as well as a swift integration into the Group.\n \n \n \n \n \n \n \n Further information can be found at:\n \n \n www.goijens.be\n \n \n \n \n \n \n \n \n \n Acquisition of Juuan Dolomiittikalkki\n \n \n The Group has also completed the acquisition of Juuan\n Dolomiittikalkki ('JD') in Finland for an effective multiple of 6 times recurring average EBITDA for the years 2020 to 2022, pre-synergies and operational improvements. JD is a specialist supplier of high quality dolomitic limestone, use...