SIG is also selling its Air Handling Division to France Air Management SA for 拢198.3m.
Most of the proceeds will go to reduce SIG鈥檚 debt, which at the end of last year stood at 拢270m, giving it a debt/equity ratio of 1.36.
SIG Building Solutions includes the brands Steadmans, United Roofing Products, Trimform Products, and Advanced Cladding & Insulation. It made an operating profit of 拢3.3m in 2018 on revenue of 拢60m.
The sales follows a strategic review at SIG in 2017 that resulted in a decision to sell non-core businesses. The Building Solution operation was consixdered non core because it is more focused on manufacturing than distribution.
SIG chief executive Meinie Oldersma said: "This disposal, on attractive terms, is in line with SIG's medium-term strategy and completes the exit of peripheral, non-core businesses identified in our 2017 strategic review."
Completion of the deal is conditional on completing the Competition & Markets Authority's clearance process.
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