Commercial law firm Hill Dickinson has advised SigmaRoc plc, the AIM-listed quarried materials group, on its acquisition of Johnston Quarry Group Limited (JQG) and Guiting Quarry Limited for an initial cash consideration of £35.5 million from Nicholas Johnston, Giantflow Limited and Flowgiant Limited.
SigmaRoc is a quarried materials group with a buy-and-build investment strategy focusing on acquiring and operating construction materials assets in the UK and Northern Europe.
JQG is a specialist quarried materials supplier producing construction aggregates and premium quality building stone, as well as agricultural lime for soil improvement. Its aggregate products are typically used in infrastructure projects, with its unique Cotswolds Ironstone and Bath Stone used in specified high-end housing applications. The business operates eight quarries and two separate processing sites located across the South West, Oxfordshire and Lincolnshire.
As part of the acquisition, SigmaRoc has also conditionally agreed to purchase from the sellers two further quarries, together with additional mineral reserves, for up to £14.5 million.
The multidisciplinary team at Hill Dickinson team was led by Corporate partners Jaspal Sekhon and Shantanu Sinha, supported by Harriet Adgie (senior associate, Corporate), Danielle Higgins (associate, Corporate), Emma McIntosh (senior associate, Real Estate), Ian Newman (senior associate, Real Estate), Jim Garton (partner, Real Estate), Louise McMahon (senior associate, Real Estate), Paul O’Brien (senior associate, Real Estate), Henry Bugg (trainee solicitor, Real Estate), Will Steed (senior associate, Employment), Barry Gibb (partner, Pensions), Charlotte Killeen (paralegal, Pensions), Aoife Ryan (legal director, Regulatory), Jordan Clarke (associate, Banking), Paul Spence (partner, Restructuring) and Will Jones (partner, Restructuring).