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Wed July 18 2018

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SIG sells fixings division for £30m

26 Jun Building products supplier SIG has agreed to sell VJ Technology to private equity firm Primary Capital.

VJT is a UK distributor of technical fixings, fasteners and consumables to the infrastructure, commercial and wider construction industry, and part of SIG Distribution.

The divestment is in line with SIG's strategy of disposing of smaller, non-core businesses to strengthen its balance sheet.

In 2017, VJT reported sales of £31.0m, profit before tax of £5.0m and operating cash flow of £4.1m.  The consideration from the sale is expected to be £29.7m, resulting in a net debt reduction for SIG of £7.4m.

 

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