Today the firm announced it had sold  its Safety and Workwear business to distribution giant Bunzl.

SIG Safety and Workwear is a leading distributor of personal protection equipment and workwear to construction.

Revenue in 2010 reached £22m and the gross assets of the business at completion were £8m.

Earlier this month SIG raised £7.1m from the sale of its scaffolding specialist Beaver 84 to French firm Altrad.

Chris Davies, Chief Executive of SIG, said: “We are pleased to announce the sale of our SIG Safety and Workwear to Bunzl plc, who will provide the necessary scale and focus to take the business forward.

“This divestment, which follows the recent sale of our scaffolding business, is consistent with SIG’s key strategic initiative to improve performance by actively managing the Group’s portfolio of businesses to focus on our core operations.”