Etex recently announced the acquisition of Sigmat, a market leader in the UK light steel frame (LSF) sector. This complements the purchase of Irish design and engineering consultancy firm Evolusion Innovation and Irish light steel frame provider Horizon Offsite.
Since its inception in 2001, Sigmat has rapidly grown into a prominent manufacturer of cold-rolled steel components and panelised structural steel frames. With headquartered in Leeds, Sigmat was one of the country’s first fully integrated offsite construction companies, offering design, engineering, manufacturing, assembly and installation services to its customers.
Employing a dedicated workforce of around 235 people, the company serves a broad and varied customer base, including blue chip clients in construction market sectors such as residential, education, leisure and senior living. Research, development and innovation are at the heart of Sigmat’s business approach, with the company focussing on the design of unique patented and highly technical products. By harnessing the power of recyclable steel combined with world class design, Sigmat builds structures that have minimum impact on the environment.
Since 2016, Sigmat has been backed by UK mid-market private equity firm LDC whose investment has supported expansion of R&D capabilities, geographical coverage as well as development of state-of-the-art production facilities in Yorkshire. This transaction marks an exit for LDC.
Mark Eburne, CEO of Sigmat said: “We have worked hard to develop innovative, cutting-edge products, bolster our UK presence and keep the environment at the heart of our business strategy. In LDC we have had a supportive investor and have grown through working in partnership with our customers to help them leverage the benefits of offsite solutions. We are now excited to look ahead as part of Etex, which we believe creates significant opportunities to take Sigmat to the next level.”
Strengthening Etex New Ways Division
Etex’s vision is to be at the forefront of the industrial, digital and sustainable transformation of the construction industry, particularly in the area of offsite building solutions. In 2020, Etex launched the New Ways division and realised several acquisitions in Europe and Latin America. Those efforts are now reinforced with the acquisition of Sigmat in the UK. By acquiring Sigmat, Etex’s New Ways expands its light steel frame and offsite solutions footprint in the UK. This strategic acquisition, together with its existing UK-based EOS business, not only firmly establishes the division as a major force in the light steel frame sector.
Paul Van Oyen, CEO of Etex said: “The emerging market for offsite solutions is capable of fulfilling numerous global needs. With New Ways specialising in these technologies, Etex seeks to bring high-quality, sustainable and affordable living spaces to people around the globe – and the acquisition of Sigmat only adds to our capability to put our ambitions into practice.”
Sigmat’s experienced management team will remain on board as part of New Ways, bringing in valuable expertise, market intelligence and business insights. This will allow the Etex division to fine-tune and consolidate its organisational structure in the UK.
Source: www.etexgroup.com
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