Monday, July 6, 2020

Thirsk steel trader acquires West Brom business

Thirsk-based All Steels Trading Ltd has acquired 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 MD 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.

Mr 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.”

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

New state of the art visitor centre a step closer for Lincoln Cathedral

Another major phase of works to Lincoln Cathedral as part of the £16.5m Connected project, of which £12.4m is funded by The National Lottery,...

University launches virtual version of popular accelerator to boost business recovery.

Leeds Beckett University is urging the region’s young businesses to sign up for the third cohort of its popular accelerator programme. Launching in late July,...

Enrolment opens for 4D Pharma’s phase II study of live biotherapeutic in COVID-19

4D Pharma, the listed Leeds-based pharma company developing Live Biotherapeutics, has announced that its Phase II clinical trial of oral immunomodulator MRx-4DP0004 for patients...

£75m investment secured for South Yorkshire

Mayor Dan Jarvis and the Sheffield City Region Mayoral Combined Authority have secured more than £75 million of Government funding to improve open spaces,...

Leaders in the Midlands and North demand early start to HS2 to help regions rebound

Political leaders in the Midlands and the North are demanding an early start to HS2 as new research shows the eastern leg of the...

Promise of post-pandemic ‘green recovery’ must be quick, report urges

Promises of a ‘green recovery’ from the coronavirus downturn must offer quick and tangible financial benefits and job opportunities, a new report argues. The Social...

Related news

New state of the art visitor centre a step closer for Lincoln Cathedral

Another major phase of works to Lincoln Cathedral as part of the £16.5m Connected project, of which £12.4m is funded by The National Lottery,...

University launches virtual version of popular accelerator to boost business recovery.

Leeds Beckett University is urging the region’s young businesses to sign up for the third cohort of its popular accelerator programme. Launching in late July,...

Enrolment opens for 4D Pharma’s phase II study of live biotherapeutic in COVID-19

4D Pharma, the listed Leeds-based pharma company developing Live Biotherapeutics, has announced that its Phase II clinical trial of oral immunomodulator MRx-4DP0004 for patients...

£75m investment secured for South Yorkshire

Mayor Dan Jarvis and the Sheffield City Region Mayoral Combined Authority have secured more than £75 million of Government funding to improve open spaces,...