Steelwork specialist bought to startup community

Steelwork specialist Shufflebottom has been bought to a startup metal constructing acquisition vehicle.

The firm has been bought by Embrace Steel Neighborhood, a firm integrated in 2020, whose internet online page online says it is miles committed to “assembling a personnel of alternate experts in metal frame constructing make and manufacturing thru strategic acquisitions”.

Embrace objectives to realize a prominent space in the UK steelwork alternate, it adds.

Carmarthenshire-primarily based completely Shufflebottom used to be primarily based in 1977 and changed into over £25.6m in the 365 days ending 30 September 2022. Pre-tax revenue stood at £843,462.

Its revenue used to be £22.1m the old 365 days, producing a pre-tax revenue of £729,327.

According to Embrace’s internet online page online, the community’s easiest other energetic firm is North Yorkshire-headquartered Hambleton Steel, which it bought in 2022.

Accounts for the 365 days ending 31 December 2022 exhibit Embrace Steel Neighborhood changed into over £7.6m.

The label of the Shufflebottom acquisition has no longer been disclosed.

Shufflebottom has been household-owned since its incorporation and affords metal-framed buildings to the business, business, agricultural and equestrian sectors, besides structural steelwork for other constructing initiatives.

Frank Holmes, a partner at Gambit Corporate Finance, which acted as lead e-book to Shufflebottom’s owners on the deal, mentioned the contemporary shareholders would continue of their roles following the sale.

He added: “Shufflebottom is a superb alternate, steeped in heritage and is a real market leader in its self-discipline.

“The shareholders like accomplished an successfully-known job rising the alternate beneath their ownership whereas last devoted to the ‘household values’ enshrined in its roots.

“Here’s a colossal example of a succession strategy that enables the shareholders to continue of their roles, conserving the legacy and cultural values embedded in Shufflebottom’s success.”

Shufflebottom used to be a finalist in the class of Contractor of the Yr (turnover upto £25m) at the 2020 Building News Experts Awards and a finalist in the Steelwork Specialist class at the 2014 CN Experts Awards.