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DJH has supported S&S Steelstock on its acquisition of Trident Sections in Kingswinford, drawing on its multi-disciplinary teams across the North West to deliver the transaction.
The deal brings together two long-established Black Country manufacturers. The firm said its corporate finance lead advisory team worked with colleagues across Manchester, Altrincham, Bury, Chester, Nantwich, Liverpool and the Wirral to complete the purchase within a short timeframe.
DJH added that the acquisition positions the enlarged business to create new jobs by expanding in the automotive, construction and electrical sectors.
The transaction drew on in-house tax and fundraising expertise, including a seven-figure funding package secured by head of commercial finance David Wright from HSBC UK.
Lewis Pearson, corporate finance director at DJH, said: “This is a fantastic purchase that brings together two well-established Black Country businesses, who collectively have more than 60 years of industrial heritage between them.
“S&S Steelstock has a long-standing background in supplying products to the auto supply chain, and this deal gives it the opportunity to capitalise on Trident Section’s expertise in specialist narrow slitting, whilst also expanding into galvanised steel capping and channel works – predominantly for the electrical wholesale market.”
He added: “The two firms share similar manufacturing values of quality and delivery performance, and this deal creates efficiencies of scale and the ability to bolster on complementary capabilities to the S&S offer.
“Importantly, the two businesses will now both be operational from the 15,000 sq ft manufacturing facility in Kingswinford, creating immediate additional capacity and helping to reduce lead times to customers.”
S&S Steelstock, which supplies mild steel coil, plate and sheared blanks, has been a client of DJH’s Bury office for more than 20 years. The company approached director Richard Bell to support its potential purchase of Trident Sections.
Chris Downs, director of S&S Steelstock, said: “We are passionate about UK manufacturing and the opportunity to bring Trident Sections into the family represented a perfect fit that will hopefully lead to growth and new jobs.
“DJH has been a superb partner on the deal. It meant we could use one specialist for 99% of the transaction and this allowed us to focus on everyday business activities, whilst the purchase was being formulated and completed. Despite all the complexities, it has been a relatively smooth process.”
DJH worked with Luke Pritchard and Sophie Knapper at Knights on the legal elements of the deal. The
