SIG offloads Wednesbury workwear firm

SPECIALIST construction products firm SIG has sold its West Midlands safety and workwear business in an undisclosed deal.

It is the group’s second major disposal within a matter of weeks.

The latest sale, to Bunzl, follows the company’s decision last month to offload its scaffolding business Beaver 84 to the Altrad Group.

Last year, the safety and workwear business generated £22m in revenues and has assets valued at £8m.

Chris Davies, chief executive of Sheffield-based SIG, said: “We are pleased to announce the sale of our SIG safety and workwear business to Bunzl plc, who will provide the necessary scale and focus to take the business forward.  

“This divestment, which follows the recent sale of our scaffolding business, is consistent with SIG’s key strategic initiative to improve performance by actively managing the group’s portfolio of businesses to focus on our core operations.”

The operation sold to Bunzl is based in Wednesbury and provides protective equipment, workwear and hygiene supplies across a range of sectors.

SIG was advised by law firm Pinsent Masons and KPMG on the deals.

Pinsent Masons corporate partner Philip Goldsborough said:  “We are delighted to have advised SIG on the strategic disposals of SIG Safety and Workwear and Beaver 84, which will enable SIG to focus on its core activities and markets going forward.  

“Working intensively with the impressive SIG team on the two concurrent transactions involved a great team effort by all”.

Bunzl was advised by Stevens & Bolton while Maclay Murray and Spens acted for the Altrad Group.