Primary Capital acquires VJ Technology in £30m carve-out

SIG, which is listed on the FTSE 250, is currently looking to dispose of non-core assets to shore up its balance sheet. It sold VJ via a competitive disposal process and said the sale will help meet its target for headline leverage of 1-1.5x for the current financial year.

The deal is expected to be worth £29.7m, SIG said, with completion expected before 30 June.

Company
VJ is a distributor of technical fixings, fasteners and consumables to the infrastructure, commercial and construction industry. It reported sales of £31m in 2017 along with profit before tax of £5m.

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• Topics
• Buyouts
• Industrials
• UK / Ireland
• Primary Capital
• United Kingdom