9th March 2016
SIG Plc, the FTSE 250 materials distribution specialist, has acquired SAS Direct & Partitioning Limited (SAS Direct) from SAS International for an undisclosed sum.
Paul Gordon, managing director, SIG Distribution said: “SAS Direct will further enhance the SIG Interiors business by extending our portfolio to include a very strong product and service proposition for the commercial interiors sector, supported by a specialist, design led technical team and a range of partitioning systems particularly suited to the London technical specification markets.”
Todd Altman, chief executive of SAS International, said: “The sale of SAS Direct to SIG Plc allows SAS International to focus on the design, manufacture and supply of our market leading range of metal ceilings and architectural metal work systems. SIG Plc will also continue to purchase partitioning components and doors from our excellent manufacturing facility in Birmingham.”
SAS Direct was established in 2010 to bring SAS International products direct to contractors from four depots in Leeds, Burgess Hill, Birmingham and Reading.
This morning SIG plc announced that 2015 group revenues from continuing operations decreased 1.4% to £2,566.4m (2014: £2,602.9m). In the UK & Ireland revenues from continuing operations increased 5.7% to £1,412.9m (2014: £1,336.2m), and were up 1.5% on a like-for-like basis, with the UK up 0.8% and Ireland ahead by 12.7%. To date in 2016 SIG has acquired five businesses for a gross cash consideration of £14.6m.
DSW undertook an extensive vendor assistance role on behalf of SAS International Limited. The engagement supported management in the preparation of carve out financial information, readiness for sale support and overall project management for the disposal.