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.”
The company offers an extensive range of durable, high-quality products and is widely regarded as a leading supplier within its industry. Utilises in-house capabilities to design and develop entirely bespoke products with short lead times.
FREEHOLD
Manufactures, supplies and installs doors and windows for residential and commercial clients. General glazing services are provided, alongside glass sales.
LEASEHOLD
Specialises in the provision of polymer injection moulding, incorporating a comprehensive range of services, including engineering and assembly.
LEASEHOLD
|
27
|
|
Sep
|
52.7k sq ft warehouse in Bangor up for sale in £2.86m auction | COMMERCIAL PROPERTY
A 52,797 sq ft warehouse with four industrial units in Bango...
|
27
|
|
Sep
|
Fashion brand Seasalt explores sale after strong year | BUSINESS SALE
Cornish fashion brand Seasalt is exploring the possibility o...
|
24
|
|
Sep
|
Kingswood reveals extensive pipeline of potential UK acquisitions | BUSINESS NEWS
Wealth and investment management group Kingswood has reveale...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources