Thirsk-based steel importer makes acquisition
All Steels Trading Ltd, based in Thirsk, has completed its acquisition of Bromford Iron & Steel in West Bromwich from the OSSL Group.
With a history spanning over 200 years, Bromford Iron & Steel has a strong reputation as a leading producer of hot rolled long products. Its rolling mills currently employ 38 people at the Oldbury site where activity in iron and steel processing can be traced back as far as 1610.
The company has benefitted from extensive investment in new plant and technology to ensure that Bromford’s product quality, flexibility and ability to produce small tonnages matches world best standards. As well as being a leading producer of steel for horseshoes, the company is a major supplier to other sectors including oil and gas and chain-making.
In addition to Bromford’s standard and non-standard range of flat bars and sections, the business specialises in producing tailor made hot rolled profiles for countless applications that can eliminate time, labour and expensive machining costs. Bromford also provides a number of secondary services such as pickling and oiling, cold side straightening and heat treatment.
The company’s acquisition was completed on 23 September 2019 by All Steels Trading Ltd, preserving all jobs. Established in 2006 by current managing director Laurence McDougall, the £80m turnover steel trading company imports a wide range of both long and flat rolled products, warehousing and processing them in the UK before their onward sale.
The deal was supported by a number of Yorkshire advisers including Clarion in Leeds led by Jonathan Simms which provided legal support to All Steels Trading; Martin Holden of Saffery Champness in Harrogate which provided taxation advice; and HSBC’s corporate team in Leeds for assisting with banking and financial advice.
Laurence McDougall explained: “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.”
“We also appreciate the support of a strong group of professional advisers here in Yorkshire who pulled out all the stops to help secure the deal very swiftly.”
Jonathan Simms, partner at Clarion, added: “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.”