Wed, 11 Jun 2025 | BUSINESS SALE
Thomas Storey Fabrications Group, a Manchester-headquartered steel fabrication firm, has been acquired out of administration. The company, which was founded in the 1930s, rose to prominence as a key UK manufacturer during World War II and has since established itself as one of the UK’s largest privately owned suppliers of steel fabricated products.
The company has a significant customer base that spans multi-national original equipment manufacturers (OEMs) and small start-ups. Most recently, the firm has supplied a blue-chip customer base specialising in a range of sectors, including construction, agriculture, trucks and trailers and refuse collection.
However, according to administrators from RSM UK, the company had been experiencing financial issues caused by the combined effect of numerous market pressures, including customers withdrawing from the UK market, persistent supply chain issues and a mounting overhead base.
As a result of these challenges, Thomas Storey Fabrications Group fell into administration last week, with Chris Ratten and Gareth Harris of RSM UK Restructuring Advisory appointed as joint administrators on June 5.
Discussing the company’s struggles, joint administrator and RSM UK partner Chris Ratten said: "Global market volatility and a shift in key customer focus, supply chain challenges, and other pressures beyond Thomas Storey’s control have unfortunately resulted in the company suffering financial strain over recent months.”
Following a thorough marketing process, the trading business and assets of the company were sold to Thomas Storey Fabrication Ltd, part of the Bulgarian-headquartered TAL Engineering Group, in a pre-pack deal that secures all 110 jobs at the firm.
Chris Ratten commented: "In what was a particularly time-pressured situation, we are delighted to have helped to achieve a sale of the business, allowing it to continue servicing its customers and, most importantly, to preserve employment for all staff.”
TAL Engineering’s Dave Brindle said that the group was “delighted to have secured the future of the Thomas Storey Business and its highly skilled and committed team.”
He added that the group was “committed to saving and developing excellent UK engineering companies” as part of its acquisition strategy.
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