Wednesday, July 8, 2020

AD Bird Stainless secures capital to fund acquisition and growth

AD Bird Stainless, a South Yorkshire supplier of precision, specialist stainless steel, has secured working capital to fund an acquisition of AKM Steels, a supplier of tool steels for the engineering industry.

The seven-figured asset-based capital, which was provided by Wyelands Bank, will also allow AD Bird Stainless to expand its product range and expand into serving new markets and customers.

This latest capital follows an initial working capital facility provided to AD Bird Stainless last December.

The acquisition of AKM Steels  is a strategic move to expand its range of product portfolios and steel grades. This will make it better placed to serve the engineering and tool making sector.

Nigel Bird, MD of AD Bird Stainless, said: “This funding with Wyelands Bank was critical to help us to bring AKM Steels into our fold.  The bank’s team took the time to get to know our business and ensure the solution met our needs.

“Like us, AKM Steels is a longstanding South Yorkshire family business offering quality product, fast delivery times and excellent technical support. It will give us a much wider product offering benefitting the customers of both companies.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

Modular installation firm boost senior team as COVID turnaround continues

East Yorkshire modular installation firm, Frontier Modular Services, has strengthened its management team with the appointment of Adam Millikin as Operations Manager. Mr Millikin, who...

Wakefield logistics facility acquired in £20m deal

Hines Glob­al Income Trust has acquired a UK logistics asset at Wakefield 41 Industrial Park from AEW UK Core Property Fund for £20.635 million. Located...

Business volumes fall at record pace in financial services

Business volumes in the financial services sector declined at the quickest rate on record, according to the latest CBI/PwC Financial Services Survey. Profitability and...

Job applications rise and competition intensifies

Competition for jobs has intensified as the lockdown eased with applications rising by 32% in June, according to a new market report. The report, from...

Croda swoops for US life sciences firm

Croda International, the Goole-headquartered speciality chemicals producer, is acquiring US life sciences business, Avanti Polar Lipids. The deal brings together Avanti's expertise in lipid-based drug...

NPIF-backed business launches thermal imaging tech to detect COVID-19

Connectus, a connectivity and end user managed service provider, is launching thermal imaging technology to help businesses to detect COVID-19. The company – which has...

Related news

Modular installation firm boost senior team as COVID turnaround continues

East Yorkshire modular installation firm, Frontier Modular Services, has strengthened its management team with the appointment of Adam Millikin as Operations Manager. Mr Millikin, who...

Wakefield logistics facility acquired in £20m deal

Hines Glob­al Income Trust has acquired a UK logistics asset at Wakefield 41 Industrial Park from AEW UK Core Property Fund for £20.635 million. Located...

Business volumes fall at record pace in financial services

Business volumes in the financial services sector declined at the quickest rate on record, according to the latest CBI/PwC Financial Services Survey. Profitability and...

Job applications rise and competition intensifies

Competition for jobs has intensified as the lockdown eased with applications rising by 32% in June, according to a new market report. The report, from...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close