Higgs & Sons completes disposal of bolt maker

A BLACK Country law firm has completed the cross-border disposal of specialist bolt manufacturer Prosper Distribution and its related worldwide companies to Beck Industries.

The deal was completed by Nick Taylor, head of Higgs & Sons’ corporate team. The deal was for an undisclosed sum.

Kingswinford-based Prosper has been well known for years as one of the very few top British manufacturers of special bolts for the subsea, petrochemical and power generation industries.

Thanks to its recent merger with Midsteel and subsequent rationalisation and sales success, the company has expanded strongly especially in the subsea industry. PDL employs over 120 people, based both in the Black Country and in Aberdeen.

The new group turnover will exceed €65m and the acquisition further strengthens group operations.

Mr Taylor said: “PDL and Beck both share the same absolute resolve regarding quality and safety. Their clients operate facilities and equipment where human lives and the environment are at risk.

“The merger between the companies will see PDL continue to function as a market leader in the high integrity bolting industry with Martin Boulter remaining as the managing director.

The deal involved the disposal of Prosper group, which has operations in the UK and Scotland, Hong Kong, China and the United States.

The disposal is Higgs & Sons’ second deal for Midsteel in less than two months.

Beck Industries is a fourth generation family-owned group, focussed on the manufacture of special bolting, operating at eight sites in France, Germany, Belgium, China and now, the UK.

The law firm’s corporate department is based at its new purpose-designed headquarters in Brierley Hill’s Waterfront.  The firm was recently shortlisted for Birmingham Law Society Law Firm of the Year.