Ronez acquired by UK firm for £45m

Friday 16 December 2016

Ronez is to be acquired by a UK company - SigmaRoc - in a £45 million deal. The new owners says all 53 jobs in Jersey will be protected.

Ronez, currently owned by Aggregate Industries, supplies construction materials and services from St John’s Quarry in Jersey and Les Vardes Quarry and Vale Castle in Guernsey, as well as public and private asphalt maintenance in both islands.

SigmaRoc announced the purchase yesterday; the deal will be listed on the Alternative Investment Market (AIM) of the London Stock Exchange with a dual listing on the Channel Islands Stock Exchange (CISE) planned for the new year. 

SigmaRoc says the funds have been raised and the deal will be put to shareholders for approval at an extraordinary general meeting in Guernsey on 3 January next year. 

SigmaRoc's Chief Executive Officer, Max Vermorken, said: “Ronez is an iconic Channel Islands’ brand; it is excellent to be able to make this acquisition with dominantly Channel Islands investors and provide an exciting future for the staff.

“We will be retaining all staff and management under managing director Mike Osborne. The strong team will drive SigmaRoc’s acquisition and expansion strategy and will deliver excellent pipeline business.

Ronez has 76 staff in Guernsey, 53 in Jersey and 24 roving employees.