Yorkshire firm snaps up steelwork business in acquisition worth up to £25m
A North Yorkshire structural steel specialist has agreed to acquire Harry Peers & Co for up to £25m.
Severfield, which is based in Thirsk, has acquired the Bolton steelwork business for an initial consideration of £18m, with a performance-based deferred consideration in place for a further £7m.
Specialising in structural steel projects, Severfield’s previous works include landmark London buildings such as The Shard, the Olympic Stadium, and the Tate Modern.
Alan Dunsmore, chief executive officer at Severfield commented: “This acquisition will help Severfield continue to deliver on its strategic objectives.
“Harry Peers’s experience in specialist, highly regulated, non-cyclical markets will enhance our future growth plans through expanding the Group’s capabilities and sector reach.
“We believe Severfield is best placed to help Harry Peers continue its profitable growth trajectory, through increased scale and investment and together with Harry Peers’s strong management team we have a real opportunity to develop a broader position within the UK structural steel services market.”
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