Transaction news Carrières du Hainaut

Carrières du Hainaut owns and operates a 200-hectare blue limestone quarry located in Soignies.

#Cobepa #sale #carrièresduhainaut #sigmaroc

18 Oct '19

Cobepa is pleased to announce the successful sale of Carrières du Hainaut (CDH) to SigmaRoc plc

BRUSSELS - October 18th 2019

The transaction was signed on October 15 and closed on October 18. The scope of the transaction includes 100% of directly and indirectly held share capital in CDH for an enterprise value of €81.3m.

CDH is Europe's largest Bluestone quarry founded in 1888, with a 50% global market share. It is also a major aggregates quarry, producing 1.5m - 2m tonnes per year. Due to its high quality and distinctive characteristics, Bluestone is a Global Heritage Resource and a highly prized product that travels worldwide (unlike most aggregates). Bluestone is used in residential, commercial and infrastructure projects, as well as for architectural and interior applications.

SigmaRoc is an AIM-listed company pursuing an active M&A consolidation strategy in the Northern European heavy construction & aggregates sectors. The business was founded by Max Vermorken (CEO) and fellow ex-Holcim Lafarge executives, who have devised a strategy of acquiring and integrating non-core assets from large-cap players in the space.

The transaction represents Cobepa's 2nd successful exit of the year. Cobepa & Verlinvest first invested in CDH in 2005.