Listed construction firm looking to sell division

X The Business Desk

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Sheffield-headquartered SIG, a supplier of specialist building products, is looking to sell its Air Handling division, according to reports.

The listed firm has decided to hire advisers to seek buyer for the division of the construction materials company which could be worth £200m or more; according to The Mail on Sunday.

It is understood that private equity firms have been contacted about purchasing the unit.

In March this year, the firm announced it had returned to profit after delivering its transformation programme last year.

SIG, which previously traded as the Sheffield Insulations Group, said in March 2018 it was to carry  carry out a ‘strategic review’ of its Air Handling unit, which sells filtering systems.