Popular on Amzeal


Similar on Amzeal

New acquisition for building materials group SigmaRoc plc (LSE:SRC)

Amzeal News/10302895
Today (25/01/19) SigmaRoc plc finalised the financing of its latest acquisition - CCP Building Products Ltd. CCP is an integrated concrete products and quarrying group located in the Liverpool and Manchester area (UK).

Jan. 25, 2019 - Amzeal -- Today (25/01/19) SigmaRoc plc finalised the financing of its latest acquisition - CCP Building Products Ltd. CCP is an integrated concrete products and quarrying group located in the Liverpool and Manchester area (UK).

The raise which totalled at £14 million at a share price of 41p received strong support from existing and new shareholders.

SigmaRoc has conditionally agreed to purchase the entire issued share capital of CCP for an initial consideration of £15.21 million in cash and shares on a debt free / cash free basis and further consideration based, in part, on the EBITDA growth of CCP over the next three financial years.

CCP has five operations that include the production of blocks, aggregates, flag stones as well as trading of cement and aggregates.

For the 12 months to 31 August 2018, CCP reported unaudited revenue of £20.9 million, EBITDA of £2.0 million and adjusted EBITDA of £2.6 million.

More on Amzeal News
Integrating CCP into the Group will be value accretive bringing an increased asset footprint with high barriers to entry, increased mineral reserves and resources, 20 per cent. regional market share and consistent organic EBITDA growth and cash flow generation.

The acquisition is an excellent strategic fit expanding SigmaRoc's precast platform to span across the UK from South-East to North-West.

The Proposed Acquisition is expected to be EPS accretive in its first full year.

This acquisition follows the latest trading update stating a 52% revenue increase for the year of 2018.

Following the completion of the CCP acquisition and the expansion of its available debt capital, SigmaRoc will now focus its attention to the expansion of its third platform across Wales and South West England (which its first acquisition was confirmed in the company's annual general meeting on 27 December last year).

At present, SigmaRoc is involved in a number of separate discussions which vary from early stage to the more detailed relating to several potential mineral asset acquisition targets. Based on information to date and subject to detailed due diligence, these assets have revenues ranging from £4m to £25m with current EBITDA margins of 10% to 20% and with net assets ranging up to £14m.

Please visit www.sigmaroc.com to learn more

Media Contact
SigmaRoc plc
ir@sigmaroc.com


Source: SigmaRoc plc
stats
Filed Under: Industrial

Show All News | Report Violation

0 Comments