Sigma Advanced divests stake in Swiss pharma firm to sharpen focus on aerospace and defence business

Sigma Advanced Systems has completed the divestment of its entire 36.52% equity stake in Extrovis AG, a Switzerland-based pharmaceutical company, in a transaction that generated $15 million and provided it with additional financial flexibility to expand aerospace and defence business.

The divestment forms part of Sigma’s ongoing portfolio rationalisation strategy and transformation into a pure-play aerospace and defence platform. By exiting a non-core pharmaceutical investment, it is freeing up capital that can now be deployed toward strengthening manufacturing capabilities, pursuing strategic acquisitions and expanding its presence across global defence and aerospace supply chains, the company said in a release on Friday.

The divestment is a step in sharpening Sigma’s focus to emerge as a global aerospace and defence manufacturing company. It had recently scaled capabilities with the acquisition of two firms, Nasmyth and AS Strategic. “As we deepen presence in international defence ecosystems, it is important that our capital and strategic priorities remain aligned with this direction. This transaction strengthens our balance sheet and gives us greater flexibility to invest in new capabilities, pursue strategic opportunities, and support the next phase of growth,” CEO Sunil Kalidindi said.