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SigmaRoc PLC, a UK-based quarried materials group, and Rettig Group have today announced that they have signed an agreement according to which SigmaRoc acquires Nordkalk Corporation from Rettig Group. As part of the transaction Rettig Group becomes a significant shareholder in SigmaRoc, which is listed on the London Stock Exchange AIM Market. Nordkalk’s operations will continue as is and no changes are expected to our customer and supplier agreements or contact persons as a result of the new ownership.
”This is good news for Nordkalk. During my tenure as CEO since early 2019 we have been working decisively with the ambition to build a profitable, growing and sustainable business, with motivated and engaged employees. Today’s announcement is evidence of the progress we have made and we look forward to continuing our development journey as a part of SigmaRoc”, said Paul Gustavsson, CEO of Nordkalk.
Nordkalk will continue serving its customers under the current name, organization and markets. Following completion, it will form SigmaRoc’s independent Northern European platform and add a core limestone products stream to the Group. Nordkalk’s Management Team will remain in place under the leadership of Paul Gustavsson, who will join the Group’s Executive Committee.
“Nordkalk is a leading, high-performing company within its addressable markets in Northern Europe, and as such fits very well into SigmaRoc’s buy-and-build strategy. We are impressed by the successful development work undertaken in the company over the recent years, and look forward to supporting Nordkalk’s development as the company transitions into its next phase. We also welcome Rettig Group as a significant shareholder in SigmaRoc”, said Max Vermorken,CEO of SigmaRoc.
“Under the stewardship of Rettig Group, not only has Nordkalk showcased its long-term commitment to sustainability, but also its engrained culture of innovation through a series of value-added solutions that have consistently been brought to market year over year. The latter is a testament of its longstanding partnership with its customers. These qualities we want to keep and build further”, continues Max Vermorken.
Rettig Group has been an owner in Nordkalk since 2003. During the recent years, Nordkalk has developed a new strategy and undergone a highly successful operational transformation, whilst continuing to improve its product and service offering.
“It has been a real privilege to work together with Nordkalk’s Management Team and Board of Directors in developing the company into a best-in-class business. Nordkalk is today a cost-competitive, future-proof business with a clear strategy to create value over the long-term. I am confident that we have found an excellent new owner for the company, and we are excited to continue the journey as a significant shareholder in SigmaRoc. This transaction supports the ongoing transformation of Rettig Group, and our re-investment in SigmaRoc is well-aligned with our investment strategy”, said Matts Rosenberg, CEO of Rettig Group and Chairman of the Board of Nordkalk.
Completion of the transaction is subject to customary anti-trust approval from relevant authorities, which are expected to be obtained during the third quarter of 2021, and to approval by SigmaRoc’s extraordinary general meeting of the transaction and a directed share issue to finance it. SigmaRoc intends to convene its general meeting for 2 August 2021.
Paul Gustavsson, CEO, Nordkalk
Tel. +358 50 385 8670 (Nordkalk Communications)
Matts Rosenberg, CEO, Rettig Group
Tel. +358 40 745 5276
SigmaRoc PLC is an asset-backed AIM quoted company that invests, improves and integrates companies within the construction materials space in the UK and Europe. Currently operating 5 platforms in the UK, Wales, Belgium and the Channel Islands, Nordkalk will form the 6th platform in Northern Europe. The Group supplies a wide range of materials ranging from cement and asphalt to precast concrete products. In addition, the 6th platform will open a range of opportunities to incorporate limestone products to this offering. www.sigmaroc.com
Rettig Group is a leading Finnish family-owned investment company that creates value for generations through active and responsible ownership. Rettig’s core investments are eQ, Nordkalk, Purmo Group, and Terveystalo. The Group is also increasingly active in financial investments, including private equity fund- and co-investments. www.rettig.fi
Nordkalk is the leading limestone company in Northern Europe. We deliver essential raw materials to numerous industries, and our solutions contribute to clean air and water as well as productivity of agricultural land.