Advising SIG plc on sale of stake to CD&R
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Elizabeth Randall
Senior Media Relations Manager
London
01 June 2020
Allen & Overy is advising leading European supplier of specialist construction materials SIG plc (SIG) on the sale of up to 29.9% of the company to U.S. private equity firm Clayton Dubilier & Rice (CD&R). The deal marks the first private investment in public equity (PIPE) in a London-listed company since 2009.
The A&O team worked closely with SIG General Counsel Andrew Watkins and was led by Corporate partners Richard Browne and Annabelle Croker with support from associates Aoife Mac Dermott, Harriet Boyle and Maria John. Partner Alastair Balfour advised on antitrust aspects of the deal.
Commenting on the transaction, Richard Browne said: “This is a significant transaction for SIG that comes at a critical time for the company and we were very happy to bring our expertise to bear on it. While PIPE deals remain relatively rare in the UK, this transaction shows that under certain conditions they can be achieved.”