Specialist building products and solutions supplier SIG plc has announced its full year 2019 results, its new growth strategy and the strengthening of its capital structure including a proposed equity raise of approximately £150m. Funds managed by Clayton, Dubilier & Rice LLC (“CD&R”) will invest up to £85m in the Company as part of the equity raise.
SIG CEO Steve Francis commented: “Since my appointment on 25 February, we have been developing a new strategy and organisational model which focuses on people, growth and active industry leadership. The essence of our new strategy is re-connection with our people – employees, customers, suppliers and the communities in which we do business – we are a local, sales and service-driven business. We have also been navigating the effects of COVID-19. I am encouraged by how robustly we have operated in the most testing of circumstances and would like to thank all our people for their resilience and fortitude in the face of this pandemic.”
For the full statement from SIG including 2019 results 2019-full-year-results