Steelwork specialist Shufflebottom has been sold to a startup steel construction acquisition vehicle.<\/p>\n
The firm has been acquired by Embrace Steel Group, a company incorporated in 2020, whose website says it is committed to \u201cassembling a team of industry experts in steel frame building design and manufacturing through strategic acquisitions\u201d.<\/p>\n
Embrace aims to attain a prominent position in the UK steelwork industry, it adds.<\/p>\n
Carmarthenshire-based Shufflebottom was founded in 1977 and turned over \u00a325.6m in the year ending 30 September 2022. Pre-tax profit stood at \u00a3843,462.<\/p>\n
Its revenue was \u00a322.1m the previous year, generating a pre-tax profit of \u00a3729,327.<\/p>\n
According to Embrace\u2019s website, the group\u2019s only other active company is North Yorkshire-headquartered Hambleton Steel, which it acquired in 2022.<\/p>\n
Accounts for the year ending 31 December 2022 show Embrace Steel Group turned over \u00a37.6m.<\/p>\n
The value of the Shufflebottom acquisition has not been disclosed.<\/p>\n
Shufflebottom has been family-owned since its incorporation and provides steel-framed buildings to the industrial, commercial, agricultural and equestrian sectors, as well as structural steelwork for other construction projects.<\/p>\n
Frank Holmes, a partner at Gambit Corporate Finance, which acted as lead advisor to Shufflebottom\u2019s owners on the deal, said the current shareholders would continue in their roles following the sale.<\/p>\n
He added: \u201cShufflebottom is an excellent business, steeped in heritage and is a true market leader in its field.<\/p>\n
\u201cThe shareholders have done an outstanding job developing the business under their ownership while remaining faithful to the \u2018family values\u2019 enshrined in its roots.<\/p>\n
\u201cThis is a great example of a succession strategy that enables the shareholders to continue in their roles, preserving the legacy and cultural values embedded in Shufflebottom\u2019s success.\u201d<\/p>\n
Shufflebottom was a finalist in the category of Contractor of the Year (turnover upto \u00a325m) at the 2020 Construction News Specialists Awards and a finalist in the Steelwork Specialist category at the 2014 CN Specialists Awards.<\/p>\n","protected":false},"excerpt":{"rendered":"
Steelwork specialist Shufflebottom has been sold to a startup steel construction acquisition vehicle. The firm has been acquired by Embrace Steel Group, a company incorporated in 2020, whose website says it is committed to \u201cassembling a team of industry experts in steel frame building design and manufacturing through strategic acquisitions\u201d. Embrace aims to attain a …<\/p>\n","protected":false},"author":43915,"featured_media":409776,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false},"categories":[553],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\t\n\t\n\t\n