Clearwater International advises Etex on its acquisition of Sigmat

Clearwater International has advised Etex, a global sustainable lightweight building solutions firm, on its acquisition of Sigmat, a UK-based light gauge steel framing (LGSF).

Founded in 2005 and headquartered in Zaventem, Belgium, Etex is a global building solutions innovator and pioneer in lightweight construction. Etex is a family-owned company with more than 11,000 employees globally. It operates more than 110 production sites in 42 countries and recorded a revenue of €2.6bn and a REBITDA of €484m in 2020.

Since its founding in 2001, Sigmat has rapidly grown into a European manufacturer of cold-rolled steel components and panelised structural steel frames.

The business is headquartered in Skipton, near Leeds, which includes a 100,00 sq ft factory and dedicated workforce of c.260 people. Sigmat is known as a provider of LGSF in the UK, as well as one of the country’s first fully integrated offsite construction companies, offering design, engineering, manufacturing, assembly, and installation services to its customers.

Sigmat has a strong focus on sustainability, as LGSF technology is one of the most sustainable construction methods on the planet. By harnessing the power of recyclable steel combined with world class design, Sigmat builds structures that have minimum impact on the environment.

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 in this direction. Those efforts are reinforced with the acquisition of Sigmat in the UK.

By acquiring Sigmat, Etex’s New Ways division expands its LGSF and offsite solutions footprint in the UK. This strategic acquisition, together with Etex’s existing UK-based EOS business, not only firmly puts the division as a major force in the LGSF market in the country, but it also further strengthens its position to capture new opportunities in several construction market segments in the UK.

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.

The Clearwater International team consisted of Managing Partner Phil Burns, Partner Michael Loudon, Director James Croxen and Associate Andrew Royle.

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.”

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.”

Michael Loudon, Partner, Clearwater International said: “It has been a pleasure to support Etex on this landmark transaction. Sigmat is another fine example of UK-led innovation in the building products sector and highlights the continued market evolution towards more sustainable forms of construction. We believe Etex is an excellent home for the business and further evidences the strength of Etex’s commitment to become the global market leader in offsite construction.”