Steel supplier completes MBO
Steel supplier Servosteel is under new ownership following an MBO led by its existing senior leadership team.
The deal sees the team made up of Steven Dickens, Darryl Macready, Sarah Ostins and Richard Burton take full control of the business, with its former owners Mark Anderson and Phillip Guest stepping aside following an eight year tenure that saw the business return to independent ownership.
Steven Dickens, commercial director, said: “We are delighted to have completed the MBO and are excited to build on the excellent platform already established. We are confident we can lead the business into a new and even more successful era through further growth and diversification”.
“We would like to express our gratitude to all our loyal customers, suppliers, staff and of course ark Anderson and Phillip Guest for their continuous support and we look forward to building on these long-standing relationships whilst maintaining our position as the UK’s number one Toll Processor.”
Mark Anderson and Phillip Guest added: “The MBO team have a proven track record at Servosteel and we would like to take this opportunity to wish them every success – we know the business is in good hands.”
Based in Dudley, West Midlands and with more than 100 employees, Servosteel provides a range of processing and storage services to the steel industry which includes Coil Pickling, Slitting, Decoiling, Coil Recovery, SCS, Blanking and Laser services.
Servosteel oversees an annual capacity of more than 500,000 tonnes of steel all situated in its centrally located warehouse offering multiple processing and storage options.
