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17th May 2019

Thrings helps global steel product distributor step into manufacturing

Megasteel Ltd, the UK’s largest independent prestressing steel stockholder and distributor, has bought neighbouring steel product manufacturer Sweetnam & Bradley with the help of Thrings.

Established in 1991 in Malmesbury and originally specialising in steel for the reinforcement of concrete, Megasteel has grown into a major global importer and distributor of steel construction products.

Sweetnam & Bradley, also based in the Wiltshire town, produces, assembles and finishes sheet metal. The acquisition marks a step into production for Megasteel, who will move its headquarters into the larger Sweetnam & Bradley premises.

The newly acquired business will hold on to its brand and employees, with Nigel Johnson and Christian Olejnik also staying on as managing director and operations director. Both major employers in Malmesbury, the acquisition will serve to secure and grow jobs in the area, which is also home to the Dyson facilities.

John Richardson, corporate partner at commercial law firm Thrings, lead the deal from a legal perspective for Nigel Roberts, owner and managing director of Megasteel. John was assisted by Lizzie King in the corporate team, with partner Ben Tarrant advising on the commercial premises aspects of the acquisition and associate solicitor Natalie Ward on employee related matters.

South West accounting firm, MHA  Monahans, provided corporate financial advice to Megasteel.

Nigel Roberts said: “Sweetnam & Bradley is a well established local business with a far reach, much like ours. Adding production to our storage and distribution operations was the natural next step for Megasteel and I look forward to growing the business together with Nigel and Christian.

“Thank you to the teams at Thrings and MHA Monahans, who expertly guided me through the substantial process of buying a company. Their commercial awareness, professionalism and determination to get things right for the business and its staff acted as a reassuring force throughout.”

John Richardson said: “With the firm having worked with Nigel for over a decade, Thrings was pleased to once again support both him and Megasteel on their upwards trajectory. We’re pleased to see continuity secured for staff and customers, but also the local population, which depends on strong businesses staying and growing locally. We wish Nigel and the, now larger, business the best of luck with the next bit – getting the most out of the corporate matrimony.”

For tips on how to buy a business, please download our Legal Guide to Due Diligence When Buying or Selling a Company, or get in touch with a member of Thrings’ Corporate team.

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