Cromar Building Products has been acquired by Sika AG in a move which “strengthens Sika’s presence in the roofing sector and enhances its product portfolio, opening up new opportunities in product innovation and geographic reach.”
Yorkshire-based Cromar has established itself as one of the leading providers of flat and pitched roofing products serving the UK under well-known brands. The business has built “a strong reputation for its innovative product offerings and exceptional customer service,” with its product range, distribution network and manufacturing footprint are all described as being “highly complementary” to Sika’s and “enable Sika and Cromar to capitalise on market opportunities and compete within the roofing sector.”
Mike Marshall, Managing Director of Cromar, said: “We have built a very successful business at Cromar and are grateful to all our employees, suppliers, customers and wider stakeholders who have supported us on our journey. We are excited to see the next stage of Cromar’s growth and development under the ownership of Sika, a business we believe shares similar values to ourselves and will help Cromar continue to go from strength to strength.
“We are excited to continue our growth under Sika’s ownership, which shares our commitment to innovation, quality, and customer satisfaction.”
Tom Forsyth, UK General Manager of Sika UK, added: “We are delighted to welcome the team from Cromar to the Sika family and this acquisition will help us further develop our activities in roofing distribution in the UK. Sika has extensive experience in the roofing sector, and we will bring this to Cromar to continue their journey of success.”
Translink Corporate Finance acted as lead advisors to the shareholders, the team consisted of Andy Haigh, Will Holmes, Will Sykes, Luke Harrower, and Emma Oakley (SPA Advisory).
Will Holmes, Director at Translink Corporate Finance UK, commented: “Cromar is a fantastic business that has carved an enviable reputation within the roofing sector. The investment overseen by the Marshall family in recent years has led to impressive growth and resulted in Cromar having a leading presence in the UK roofing sector.
“It has been a pleasure to work with the shareholders and deliver this transaction on their behalf, the outcome being testament to what they have achieved over many years in business. It is also a perfect example of Translink’s ability to execute high-quality cross-border M&A deals.”
Jonathan Simms, Nicola Cooper, and Jonathan Schneider of Clarion Solicitors provided legal advice to the shareholders and a team from PwC’s Leeds office consisting of Will Oxley, Ben Ferguson, Peter Newbery, and Jonny Bruce carried out financial due diligence on behalf of Sika. Jonathan White, Perdi Edge-Partington and Ed Hitchen of DAC Beachcroft provided legal advice to the buyer.
Main image shows (from left to right): Will Sykes, Will Holmes (both Translink Corporate Finance), Darren Bunting, Tom Forsyth (both Sika), Mike Marshall (Cromar Building Products), Miles Garrod (Sika), Cheryl Marshall, Dan Marshall (both Cromar Building Products), Andy Haigh (Translink Corporate Finance), Wayne Angelo (Sika).
