Malmesbury-based Megasteel, the UK’s largest independent prestressing steel stockholder and distributor, has bought neighbouring steel product manufacturer Sweetnam & Bradley with the help of regional low firm Thrings.
Sweetnam & Bradley, also based in the Wiltshire town, produces, assembles and finishes sheet metal. The acquisition marks a step into production for Megasteel, who will move its headquarters into the larger Sweetnam & Bradley premises.
The newly acquired business will hold on to its brand and employees, with Nigel Johnson and Christian Olejnik also staying on as managing director and operations director. Both major employers in Malmesbury, the acquisition will serve to secure and grow jobs in the area, which is also home to the Dyson facilities.
John Richardson, corporate partner at commercial law firm Thrings, lead the deal from a legal perspective for Nigel Roberts, owner and managing director of Megasteel. John was assisted by Lizzie King in the corporate team, with partner Ben Tarrant advising on the commercial premises aspects of the acquisition and associate solicitor Natalie Ward on employee related matters.
South West accounting firm, MHA Monahans, provided corporate financial advice to Megasteel.
Nigel Roberts said: “Sweetnam & Bradley is a well established local business with a far reach, much like ours. Adding production to our storage and distribution operations was the natural next step for Megasteel and I look forward to growing the business together with Nigel and Christian.
More details here.