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Press Release

Fieldfisher advises SigmaRoc in connection with c.€470 million Nordkalk acquisition



United Kingdom

The firm's equity capital markets team acted as IPO counsel to AIM-quoted SigmaRoc plc on its £260 million fundraising, reverse takeover of Finnish limestone producer Nordkalk Oy AB for c.470 million and re-admission to AIM.
Fieldfisher's Band 1-ranked equity capital markets team acted as IPO counsel to AIM-quoted SigmaRoc plc on its £260 million fundraising, reverse takeover of the Finnish limestone producer Nordkalk Oy AB for c.€470 million and re-admission to AIM.

SigmaRoc was created in 2016 and focuses on investing, improving and integrating companies in the European construction materials sector.

Nordkalk was established in 1898 as a limestone developer in Finland and has expanded to become a leading supplier of limestone-based solutions for agricultural, construction and chemical industries.

The acquisition will be funded in part by SigmaRoc's £260 million placing with institutional investors and a £305 million debt facility with a banking syndicate led by Santander.

Once completed, the deal will create an enlarged quarried materials group, operating across six platforms, with 37 quarries and 76 operations across 13 countries in Northern Europe, supplying a range of products from aggregates to specialist materials.

The Fieldfisher team advising SigmaRoc in the capacity of IPO counsel was led by corporate partner, Ed Westhead.

Ed Westhead, lead partner on the transaction, said:

"We are delighted to have helped SigmaRoc on this transformative transaction and significant fundraising.

"Congratulations to SigmaRoc, Nordkalk and to the whole deal team who delivered this significant transaction on a very tight timescale."

Ed was supported on the deal by senior associate Lily Searle, associate Francis Tsui and trainee Jean-Luc Esposito. SigmaRoc is a long-standing client of Anthony Brockbank.

About Fieldfisher

Fieldfisher is a European law firm with market-leading practices in many of the world's most dynamic sectors. We are an exciting, forward-thinking organisation with a particular focus on energy and natural resources, technology, financial services and life sciences.

Our integrated cross-departmental mining team specialises in advising companies and their funders in relation to mining projects across the world.

We are particularly well-represented in Europe, Africa, Russia and the CIS, but we also advise clients with interests in North America, Asia and Australasia.
The team is recognised as a leading practice in the small-to-mid cap part of the sector, with particular expertise in alternative mining finance on which we publish a comprehensive biennial guide.

We are also recognised as thought leaders on topics including ESG and sustainability in the mining industry and supply chain transparency in respect of conflict minerals and wider manufacturing operations.

Fieldfisher has 25 offices across 11 countries. We operate across our offices in Amsterdam, Barcelona, Beijing, Belfast, Birmingham, Bologna, Brussels, Dublin, Düsseldorf, Frankfurt, Guangzhou, Hamburg, London, Luxembourg, Madrid, Manchester, Milan, Munich, Paris, Rome, Shanghai, Turin, Venice and Silicon Valley.

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