Acquisition of historic steel company saves 25 jobs
STEEL stockholder Mercers & Sons has been bought by Walkerbridge, part of the Walker Steel group, in an undisclosed transaction which secures the 25 jobs of all the staff at the 175-year-old Blackburn company.
The company which has been run by five generations of family control, started out as a Victorian ironmonger and has progressed to becoming a steel stockholder with a specialist reputation in fastenings, power tools and architectural hardware.
Bill Haggas, formerly managing director of Mercers, said: “All of the jobs have been secured and we hope that the business will go from success to success under its new ownership. I would like to express my thanks to all of the staff for their patience whilst this transaction was carried out.”
James Dodgeon, managing director of Walkerbridge, said: “This is an iconic Blackburn business which has been around for generations. I am pleased to be able to lead it through the next stage of its development and look forward to working closely with the very loyal workforce for many years to come.”
The company was advised throughout the sales process and in its dealings with customers and suppliers by David Thornhill, partner at FRP Advisory, the business advisory firm, with Tim Mills of PM&M, accountants in Blackburn providing accounting and tax advice.
Legal advice to the company was provided by Pauline Rigby of Forbes Solicitors whilst Richard Robinson of Napthens advised the purchaser.
David Thornhill, partner at FRP Advisory, who led the financial advice for Mercers, said: “We are particularly pleased that such an established, generations-old and well thought of company such as Mercer & Sons, will continue to provide excellent service to its many customers for, hopefully, another 175 years.”
