Acquisition of Belgian concrete supplier and Finnish supplier of high-quality dolomitic limestone
AS highlighted in their recent investment pipeline update, AIM-listed quarrying and materials group SigmaRoc have continued their acquisition spree with two further northern European transactions, further demonstrating the company’s declared strategy of ‘Invest, Improve, Integrate, Innovate’, which focuses on expansion through bolt-on acquisitions.
Goijens Concrete Group, located in north-east Belgium, are one of the leading suppliers of ready-mixed concrete and pumping solutions with two concrete plants and recycling facilities. They will join SigmaRoc’s Benelux platform, which already produces more than 2 million tonnes of aggregates and over 250,000 sq m of concrete, specifically targeting the concrete, sea defence and riverbank fortification sectors.
The second acquisition, Juuan Dolomiittikalkki (JD), located in Finland, is a specialist supplier of high-quality dolomitic limestone used in the agricultural and environmental sectors to improve regulation of soil pH and water retention. JD’s operations are located close to the SigmaRoc’s existing Finnish business and represent a valuable extension into dolomitic limestone.
JD add approximately 1.5 million tonnes of reserves, equating to roughly 30 years of operating life and €1.5 million of revenue to the Group. The existing management team will continue to operate and grow JD as it is integrated into Nordkalk’s Nordics platform.
The two acquisitions follow the reverse takeover of Nordkalk Oy Ab, Northern Europe’s leading limestone producer from Rettig Group, which was completed in July 2021, as well as the acquisition of Johnston Quarry Group and RightCast in 2022. SimgaRoc also entered into strategic joint ventures with Carrières du Boulonnais in 2021 and ArcelorMittal in 2022.
SigmaRoc’s chief executive officer, Max Vermorken, commented: ‘We are making good progress on the acquisitions pipeline to deliver on our objective to become the leading European quarried materials group.
‘These two further acquisitions strengthen our existing platforms, bring new capabilities into our group and sustain our momentum. There are significant operational synergies that can be derived as we integrate both companies into our platforms that will ultimately benefit our customers, shareholders and wider stakeholders.’