Change of Owner at Steels
February 16, 2007
A REGIONAL company has been acquired by a plc in a 2.1m deal.Teesside-based Steels Engineering Services Limited, together with its Steels Engineering Design Limited arm, have been bought by Wakefield-based Redhall Group.Established in 1998 through a management buyout from Deutsche Babcock, the Steels group provides design and engineering services to the nuclear, power generation, defence, pharmaceutical and petrochemical sectors.Its headquarters is in Billingham and other offices are in Team Valley, Gateshead.In the year to September 30, Steels had a turnover of 4.8m.Its current order book exceeds 6m.
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