PE house backs solutions firm
Outsourced solutions firm Sigma Retail Solutions has received an investment from Private Equity house Three Hills Capital Partners (TCHP) to support future organic and inorganic growth initiatives.
Glasshoughton-headquartered Sigma is a leading provider of outsourced solutions to blue chip retailers across the UK, Europe and Australia. The firm offers a services from procurement to project delivery and supply chain solutions of various specialist fixtures and fittings.
Sigma was founded in 2007 by Jonathan Haigh and is led by CEO Craig Bennett. It is a leading GNFR (“Goods Not For Resale”) solutions provider which names some of the leading global retailers including large format food retailers, pharmaceuticals, fashion and high street brands as clients.
The company has more than 230 employees worldwide and has grown rapidly to over £50m revenues.
THCP is partnering with Sigma to support future organic and inorganic growth initiatives, and the management team to increase their shareholding, through an innovative preferred capital
Haigh will remain closely involved as a director of the Board and also retain a significant equity stake in the company going forward. He said: “This transaction represents a key milestone in Sigma’s history. Craig and his team have done a fantastic job in leading the development of the business in recent years and I look forward to continuing to support them on both organic and inorganic growth initiatives. I am delighted with the partner we have found in THCP, and the tailored financing solution they have put in place.”
Bennett added: “I am excited to lead the business through its next stage as we look to both continue to serve and consolidate our position with our existing customers, as well as pursue additional growth opportunities. We are very pleased to be partnering with THCP, with whom we have already identified a number of interesting new initiatives to explore.”
Joe Jefferies, UK coverage at THCP, said: “We are pleased to back Sigma’s management team in this new phase of growth and to partner with two outstanding entrepreneurs in Jonathan and Craig. The Company is a leader across multiple niches and we were impressed by Sigma’s track record of innovation and growth.”
Grant Thornton (Richard Goldsack, Jim Whittaker, Duncan Morpeth and Jake Troughear) gave corporate finance and tax (Rachel Engwell and Hannah Barraclough) advice to Sigma on the deal.
Goldsack, corporate finance partner at Grant Thornton, said: “In recent years, Sigma has expanded the range of services it offers to its clients, supporting major global retailers through their store investment programmes. Sigma is on an exciting growth journey and Grant Thornton is delighted to have played a key role in its next phase of development. We wish Craig and his team all the best for the future.”
Other advisors to Sigma were Squire Patton Boggs (Paul Mann, Jayne Aarons, Guy Ruddy and Emily Downie) and KPMG (financial – Chris Stott and Richard Norbury).
THCP was advised by Deloitte (financial – Matt Henderson and Holly Smith), CMS (legal), Kaiser (commercial) and EY (tax).
