Sheffield’s SIG buys Miers Construction Products

SIG plc, the Sheffield-based international building materials supplier, announced it acquired Miers Construction Products Limited (MCP) for an initial cash consideration of £28 million.

A further contingent cash payment of up to £6.7 million will be payable, subject to the performance of the business during the period ending on December 31, 2023, together with a deferred cash payment of £1.8 million, payable in 24 months.

SIG CEO Steve Francis said: “We are delighted to announce the acquisition of MCP, which demonstrates delivery of SIG’s Group strategy to grow both organically and through carefully targeted value-enhancing acquisitions.

“MCP is a highly attractive specialist business with a strong brand, a great reputation for quality service, and technical sector specialism and expertise.

“These key elements have created a business that has the ability to grow sustainably ahead of the market. MCP illustrates the opportunities to accelerate through acquisition our path to 5% margins in the medium term.

“We welcome MCP’s knowledgeable and committed management team and employees to SIG and look forward to working with them.”

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Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.