Yorkshire distribution specialist SIG UK has acquired a Cambridgeshire business in a deal worth £36.5m.
The Sheffield-based building materials firm said the deal for Miers Construction Products Limited (MCP), a leading supplier of specialist construction materials based in St Neots, marks a strong strategic fit for the business. It has made the acquisition for an initial cash consideration of £28m and a further payment of up to £6.7m is subject to the firm’s business between now and the end of 2023, together with a deferred cash payment of £1.8m, payable in 24 months.
The company said the acquisition of MCP broadens SIG’s UK offering in high-performance construction accessories and fixings, and is a strong fit with SIG’s business model of entrepreneurial teams to deliver “superior service through deep supplier partnerships and specialist expertise”. SIG also said it will strengthen existing relationships with key end-users, serving complementary customer and supplier groups across a number of key sectors.
