Clearwater International advises global building products group on acquisition

Birmingham’s Clearwater International has advised international building products group Etex on its acquisition of Sigmat, a specialist in light gauge steel framing (LGSF).

Etex was founded in 2005 and is headquartered in Zaventem, Belgium and has more than 11,000 employees globally. It operates more than 110 production sites in 42 countries and recorded a revenue of €2.6bn in 2020.

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

The business is headquartered in Skipton, which includes a 100,00 sq ft factory and a workforce of around 260 people. Sigmat is known as a leading 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.

The Clearwater International team comprised managing partner Phil Burns, partner Michael Loudon, director James Croxen and associate Andrew Royle.

Loudon 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.”