05 Jan 2017
Construction and Materials
Convertible Loan Note Issue, Placing
- Post Deal Mkt Cap: £41m
Zeus Capital acted as Broker to SigmaRoc plc on its 50m fundraise
Zeus Capital acted as Broker to SigmaRoc on its £50m institutional fundraise and convertible loan note issuance
SigmaRoc, an AIM Rule 15 cash shell, purchased Ronez Limited (“Ronez”) from Aggregate Industries, part of the LafargeHolcim Group. Ronez is a fully integrated producer of construction materials and operates two hard rock quarries and multiple business lines with associated production units across Jersey and Guernsey, with approximately 3.36Mt of Proved Mineral Reserves and a further 6.22Mt of Measured and Indicated Mineral Resources.
Following the successful acquisition of Ronez, SigmaRoc will now commence the execution of a buy and build strategy in the construction materials sector, leading to the Company building a diversified stream of income, sourcing stability and growth from niche markets and sectors. Its focus will be on cash generative assets that produce aggregates, concrete, precast concrete and other related materials.
Max Vermorken, Chief Executive Officer of SigmaRoc, commented:
"Ronez presented an excellent opportunity to acquire a profitable and well managed building materials business in a very stable market. It will be our cornerstone asset and a great starting point in the journey to grow a niche focused building materials business. We look forward to working with the local management team and are confident that we can support them to further improve on Ronez’s impressive operational and financial performance."
Rob Collins, Head of Natural Resources, Zeus Capital
"We are extremely excited at the completion of Zeus’ maiden transaction in natural resources. SigmaRoc represents a vibrant young company with significant sector expertise in the construction materials industry. The fundraise is a clear endorsement of the technical and commercial credentials of the company’s management team and strategy. We look forward to working alongside Max and the SigmaRoc team in the future, helping the company to execute its long-term growth plans.”