DAVY VIEW

SigmaRoc offers the growth of a relatively early-stage roll-up and the stability of mature assets in supply-constrained lime and minerals markets – a unique combination. We see double-digit EBITDA growth through 2030, supported by operating leverage, bolt-ons in existing and adjacent markets and an already impressive record of improving businesses. SigmaRoc is achieving such scale that integration is a real benefit and pricing power will become clear.