West Yorkshire-based steel stockholder Pulman Steel (
www.pulmans.co.uk) is aiming to scale up its operations, following its acquisition by London-based private-equity firm Breal Capital.
It becomes part of Breal’s network of regional UK steel stockholders and will benefit from the combined buying power and operational synergies of the group.
Established in 1830, Pulman Steel has grown to become a steel stockholder and processing centre employing over
80 people at its purpose-built 100,000ft
2 facility in Sowerby Bridge, with a forecast turnover for 2019 of £13 million.
Majority shareholder David Shoesmith will retire from Pulman Steel after a short handover period. With the support of Breal Capital, shareholder and finance director Chris Horner will work with Pulman Steel’s long-standing management team to continue the growth of the company.
Mr Horner said: “Becoming part of Breal Capital’s family of businesses will support our continued strategic growth and strengthen our position as one of the largest independent steel stockholders in the North of England.
“Our customers will directly benefit from our new position, as a result of the economies of scale that come with being part of a larger network.”