SigmaRoc acquires remaining 60% of GDH for £7.5m


Construction materials group SigmaRoc said it had agreed to acquire the remaining 60% of Welsh quarrying company GDH that it didn't already own for £7.5m.

The acquisition agreement followed the exercise of an exclusive option first announced in April 2019 and was expected to be completed on or around 21 September.

SigmaRoc had paid £4.9m for its initial 40% stake in had until the end of August 2020 to exercise the option.

The additional consideration would be funded through internal resources following 'strong' cash generation during the first half of 2020, the company said.

'The group's objective not to incur further dilution for equity holders for the acquisition of the remaining 60% shareholding was therefore achieved, making this transaction significantly earnings enhancing,' it added.

Related content

SigmaRoc releases trading update

Construction materials group SigmaRoc has provided a trading update for the year ended December 31, 2020, ahead of the publication of its audited results, on...

Thu, 04/02/2021 - 09:45

SigmaRoc secures £125m credit facility led by Santander UK

Heavy construction materials group SigmaRoc said it had entered into a new credit facility of up to £125 million led by Santander UK and including...

Tue, 22/12/2020 - 09:20

SigmaRoc forecasts earnings beat; launches £12.4m equity raising

Heavy construction materials group SigmaRoc said it expected its underlying annual results to be 'comfortably' head of market expectations amid a large rise in revenue....

Wed, 09/12/2020 - 08:57

SigmaRoc completes acquisition of Welsh quarrying group GDH

Construction materials company SigmaRoc said it had completed the acquisition of the remaining 60% equity interest in Welsh quarrying group GDH that it didn't already...

Tue, 22/09/2020 - 07:38

SigmaRoc profit rises following Carrieres du Hainaut acquisition

Construction materials group SigmaRoc posted a rise in first-half profit after its acquisition of Carrieres du Hainaut last October boosted sales.

Pre-tax profit for the...

Mon, 07/09/2020 - 09:36