New expanded credit facility for SigmaRoc
SigmaRoc enter into new syndicated senior credit facility of up to £125 million led by Santander UK
SIGMAROC have entered into a new syndicated senior credit facility of up to £125 million led by Santander UK and including several major UK and European banks.
The credit facility, which comprises an £85 million committed term facility and a £40 million accordion option, will provide the Group with further capacity and flexibility to support its ongoing buy-and-build strategy, as well as reducing like-for-like borrowing costs.
The board of SigmaRoc believes that, with this credit facility in place and the £12.4 million equity fundraise announced on 9 December 2020, the Group is in a solid position to continue its buy-and-build strategy and take advantage of multiple near-term opportunities.
Max Vermorken (pictured), chief executive officer of SigmaRoc, commented: ‘I would like to thank Santander UK, who have supported our business and our growth for many years and took the lead on this expanded facility in the role as mandated lead arranger.
‘The Group has benefitted from their pragmatic approach and speed of execution. I am pleased we will be entering into 2021 with the right facilities in place, backed by high-quality banks in the UK and Europe, to support the Group in its development and further growth.’
Rob Purdew, associate director at Santander, commented: ‘SigmaRoc plc have an excellent track record in executing their buy-and-build strategy and are well placed to further develop and improve their position within the construction materials sector in Europe.
‘We are pleased to have strengthened our relationship with the Group through our role as mandated lead arranger with this high-growth and internationally focused company.
‘The credit facility allows for significant headroom in support of SigmaRoc’s acquisition-led strategy and confirms that there is significant lender appetite for this resilient and strongly performing business.’