SigmaRoc plc’s c.€470 Million Acquisition Of Nordkalk Oy AB

Fieldfisher acted IPO counsel to AIM-quoted SigmaRoc plc.

The transaction involved SigmaRoc plc’s £260 million fundraising, reverse takeover of the Finnish limestone producer Nordkalk Oy AB for c.€470 million and re-admission to AIM.

SigmaRoc was created in 2016 and focuses on investing, improving and integrating companies in the European construction materials sector.

Nordkalk was established in 1898 as a limestone developer in Finland and has expanded to become a leading supplier of limestone-based solutions for agricultural, construction and chemical industries.

The acquisition will be funded in part by SigmaRoc’s £260 million placing with institutional investors and a £305 million debt facility with a banking syndicate led by Santander.

Once completed, the deal will create an enlarged quarried materials group, operating across six platforms, with 37 quarries and 76 operations across 13 countries in Northern Europe, supplying a range of products from aggregates to specialist materials.

The Fieldfisher team advising SigmaRoc in the capacity of IPO counsel was led by corporate partner, Ed Westhead (Picture). Ed was supported on the deal by senior associate Lily Searle, associate Francis Tsui and trainee Jean-Luc Esposito.

Involved fees earner: Lily Searle – Fieldfisher; Francis Tsui – Fieldfisher; Edward Westhead – Fieldfisher;

Law Firms: Fieldfisher;

Clients: SigmaRoc plc;

Author: Federica Tiefenthaler