SIG Agrees to Sell Fastener Maker VJ Technology to Private Equity Firm

SIG PLC said it has agreed to sell VJ Technology (VJT), a maker of fasteners and technical fixings, to UK private equity investment firm Primary Capital. The roofing and insulation supplier said the consideration from the sale was expected to be around £29.7mln.

SIG added that the sale was expected to complete on or before 30 June and was in line with its medium-term strategy of “disposing of smaller, non-core businesses in order to refocus the group's portfolio and strengthen its balance sheet.”