Latest acquisition takes OSSL to £20m turnover

GROWING West Midlands manufacturing group OSSL will reach an annual turnover of £20m following its latest acquisition, director Peter Davies has told TheBusinessDesk.com.

OSSL subsidiary, steel stockholder, D & J Steels in Wolverhampton, has acquired rival Woodsetton Steels for an undisclosed sum.

Mr Davies said: “OSSL has gone from £6m to £20m in just two years. D&J itself has more than trebled in size in that time.”

This is the second acquisition this year for D & J following its purchase of Midsteel Bars from the Midsteel Group. Woodsetton will be renamed D & J Steels and the business will be relocated from Oldbury to D & J’s site in Colliery Road, Wolverhampton.  

Consolidation and centralisation has been the hallmark of OSSL’s approach, which also has a consulting arm specialising in overseas outsourcing. OSSL is also the largest shareholder of Brockhouse Group, the West Bromwich-based manufacturer and forgings firm.

D & J Steels chairman Chris Hutton-Penman said of the latest acquisition: “It’s a marriage we have sought for some time. In these still challenging times it will create a far more robust company and help us to protect the jobs of our employees.  

“It will also benefit our customers by increasing the steel stock we carry and increase the product range especially in small bars. The combined company will also consolidated our position as the largest steel stockholder to the forging industry in the UK and an important supplier to engineering, and oil and gas companies throughout the UK.”

Mr Davies said: “The group will have trebled in size this year mainly through acquisitions and we are still looking for further companies in manufacturing and steel stockholding to add to our portfolio.”

D & J were advised by Black Country law firm George Green and Co and financial advisers Crowe, Clark Whitehill.