Mon, 30 Sep 2019 | BUSINESS SALE
All Steels Trading, a steel importer based in Thirsk, North Yorkshire, has successfully taken over the historic Bromford Iron & Steel company from OSSL Group.
Bromford Iron & Steel, which can trace back its roots to 1610, operates from its site in Oldbury to process iron and steel with 38 members of staff to its name. The company produces flat bars and sections, and specialises in the production of hot-rolled profiles which replace expensive and labour-intensive machining costs.
Similarly, All Steels Trading was established in 2006 and presently boasts a £80 million turnover. The acquisition is described to be a part of the company’s growth strategy.
All Steels Trading’s current managing director, Laurence McDougall, said: “The acquisition of Bromford Iron & Steel offers excellent synergy with our other UK steel-related businesses, but especially with our Wolverhampton-based Special Steel Sections rolling mill.
“As a bulk international steel trader, we have the critical mass to obtain extremely competitive raw materials prices and these price savings will enable Bromford to grow and fulfil capacity.
“The acquisition also confirms our commitment to supporting and investing in traditional British industries, and safeguarding a significant number of UK jobs.
“We believe British companies in this industry sector are more than capable of not just supporting domestic steel requirements but successfully competing on the world stage – and the support of All Steels Trading and its group of UK steel manufacturing companies will no doubt certainly help them to do just that."
Jonathan Simms, a legal partner at Clarion who advised All Steels Trading on the deal, said: “It's great to see a Yorkshire business continuing to expand and succeed on the world stage, particularly in such a competitive sector.
“This acquisition not only secures the jobs and business at Bromford, but will also help All Steels Trading to continue its growth strategy.”
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