Laidlaw makes £14m SIG swoop
Laidlaw Interiors Group, based in Willenhall, has bought the interiors manufacturing arm of SIG. Laidlaw bought the loss-making division for £14m.
SIG, which supplies insulation and specialist construction products, sold its Interiors Manufacturing business after the subsidiary posted pre-tax losses of £49.2m.
SIG Interiors Manufacturing designs and supplies performance doorsets, partitions, washrooms and glazing products in the UK. The business trades under the brands of Leaderflush + Shapland, Komfort Workspace, Cubicle Systems and SIG Glazing Services.
Laidlaw Interiors Group was backed by Rutland Partners, a UK private equity firm, to complete the £14m deal.
Chris Davies, chief executive of SIG, said: "Consistent with our key strategic initiative to improve performance by actively managing the group's portfolio of businesses, we are pleased to announce the sale of SIG Interiors Manufacturing to Laidlaw and Rutland Partners.
"This divestment, together with the recent disposals of our scaffolding and safety & workwear businesses, enables us to better focus on our core distribution and merchanting operations and helps to rebalance the group's exposure further towards residential markets."
