SigmaRoc to acquire Belgian armour-stone group

摘要

RAPIDLY expanding buy-and-build construction materials group SigmaRoc have conditionally agreed to acquire Belgian sea-defence rock-quarrying group Stone Holdings SA (Stone) for a transaction value of up to €2.2 million, comprising a combination of cash and the issue of new ordinary shares in SigmaRoc. Stone operate two quarries, a wharf and a contracting business in Belgium, focusing on rock armour for river- and sea-defence work. For the financial years 2016, 2017 and 2018, the company achieved average revenue of €3.8 million and recorded adjusted EBITDA of €500,000. For the year ended 31 December 2018, Stone reported a pre-tax profit of approximately €355,000, whilst the company's gross asset value at year-end was €3.7 million.