Construction materials group, SigmaRoc has landed a huge funding boost from Santander Corporate & Commercial.

The group secured £14 million to support its acquisition-led growth strategy, and refinanced unsecured convertible loan notes held by shareholders.

SigmaRoc follows follows a decentralised buy-and-build strategy, acquiring companies where the experienced management team feel they can add value through operational and structural improvements.

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They have previously acquired Topcrete Ltd, Poundfield Product Group and CCP Building Products Ltd. Santander also helped fund these acquisitions.

Max Vermorken, co-founder and CEO at SigmaRoc PLC, said: "The funding from Santander has been central to the successful execution of SigmaRoc's acquisition led growth strategy, and we are aiming to replicate this success going forward. We are continuing our search for additional acquisitions where we feel we can deliver extra value and firmly believe that we will continue to transform and grow the business across 2019."

David Muse, Structured Finance Director Santander Corporate & Commercial, added: "SigmaRoc has demonstrated a track record of success and growth, and we are delighted that Santander, which is focused on helping clients to grow and expand, remains a valuable partner."

(CM/MH)