Sigma secures investment from Three Hills Capital Partners
Tue 03 Apr 2018
Sigma Retail Solutions, a Glasshoughton-headquartered provider of outsourced services to retailers across the UK, Europe and Australia, has secured investment from Three Hills Capital Partners (THCP).
Founded in 2007 by Jonathan Haigh, Sigma is led by chief executive Craig Bennett along with a team of experienced divisional directors. The business, which serves customers including large format food retailers, pharmaceuticals, fashion and high street brands, has more than 230 employees worldwide.
THCP is partnering with Sigma to support future organic and inorganic growth initiatives, and the management team to increase their shareholding, through a preferred capital system.
Haigh will remain involved as a director and also retain a significant equity stake in the Sigma.
"This transaction represents a key milestone in Sigma's history," said Haigh. Craig and his team have done a fantastic job in leading the development of the business in recent years and I look forward to continuing to support them on both organic and inorganic growth initiatives.
"I am delighted with the partner we have found in THCP, and the tailored financing solution they have put in place."
Craig Bennett added that Sigma had already identified "a number of interesting new initiatives to explore".
Grant Thornton (Richard Goldsack, Jim Whittaker, Duncan Morpeth and Jake Troughear) gave corporate finance and tax (Rachel Engwell and Hannah Barraclough) advice to Sigma on the deal.
Richard Goldsack, corporate finance partner at Grant Thornton who led the deal, said: "In recent years, Sigma has expanded the range of services it offers to its clients, supporting major global retailers through their store investment programmes.
"Sigma is on an exciting growth journey and Grant Thornton is delighted to have played a key role in its next phase of development. We wish Craig and his team all the best for the future.”
Other advisers to Sigma were law firm Squire Patton Boggs (Paul Mann, Jayne Aarons, Guy Ruddy and Emily Downie) and KPMG (financial - Chris Stott and Richard Norbury).
THCP was advised by Deloitte (financial - Matt Henderson and Holly Smith), CMS (legal), Kaiser (commercial) and EY (tax).