Thu, 28 Mar 2019 | BUSINESS SALE
Global USCO Group, responsible for the manufacture and distribution of construction and earthmoving machinery all over the world, has successfully completed the acquisition of Birtley-based Midland Steel Traders (MST).
The deal was led by Womble Bond Dickinson and UNW, whose corporate finance manager, Stephanie Davidson, believed the deal was “representative of the ambition and drive of businesses across the North East”.
MST, established in 1963 and now with facilities in Birmingham and Glasgow as well, creates components and provides servicing and repairs to existing earthmoving and construction machinery. It operates three workshops and two manufacturing centres across the country, with 80 employees to its name.
Italy-headquartered USCO Group’s takeover of MST strengthens the relationship between the two companies, having sustained a strong trading relationship lasting many years prior to the acquisition.
Managing director of MST, Rory Whitehall, said: “We are looking forward to working as part of a world-beating organisation, so that we can continue to provide the very best service, support and innovation to all of our customers.
“It will give MST and our customers access to powerful new resources, which will allow us to further invest in the organisation and achieve our full potential.”
USCO’s controlling shareholder and chief executive, Massimo Galassini, commented: “We are proud of the acquisition of MST, our historical undercarriage components dealer in Great Britain.
“We firmly believe that this transaction represents a further step in the development of our global footprint as well as in the consolidation of the USCO Group position as a recognised world-wide leader.”
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