SECTOR

Steel Manufacturing & Distribution

BUSINESS DESCRIPTION

UK based £45million turnover, vertically integrated, steel manufacturing and distribution business specialising in the rolling and distribution of engineering grade flat/square steel bars and special sections. B2B and B2C customers, operating in various industries.

DATE

March 2023​

SITUATION

• The Company had been experiencing significant cash flow pressures as a result of the challenging economic environment. The Company was not able to secure the required additional funding to continue trading on a solvent basis.

• On 6 March 2023, Individuals from A&M were appointed as Joint Administrators.​

A&M ROLE AND OUTCOME

• A&M role was to maximise recoveries from the Company’s assets. The opportunity was marketed to 61 independent financial investors and trade parties. ​

• Following interest from a number of interested parties, Barrett Steel Limited were identified as the preferred bidder.

• The transaction completed via a sale of business and certain assets, including the TUPE transfer of 172 employees.​