Megasteel Ltd, the UK’s largest independent prestressing steel stockholder and distributor, has bought steel product manufacturer Sweetnam & Bradley.
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 Malmesbury, produces, assembles and finishes sheet metal.
The acquisition marks a step into production for Megasteel, which 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.
John Richardson, corporate partner at commercial law firm Thrings, led the deal for Nigel Roberts, owner and managing director of Megasteel. Swindon-based accounting firm MHA Monahans provided corporate financial advice.
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.”
Pictured above: Christian Olejnik of Sweetnam & Bradley, left, and Nigel Roberts of Megasteel