UK-based structural steel fabricator Severfield-Rowen Plc has announced its acquisition of Northern Ireland-based Fisher Engineering Limited, a constructional steel fabricator, at a total cost of £90 million in cash and stock, in order to ensure its leading market position in the UK and to streamline its presence in Ireland.
Commenting on the acquisition, Severfield-Rowen chairman Peter Levine said, "The combination of Severfield-Rowen and Fisher Engineering will increase our scale and further strengthen our offering to clients at a time when we are seeing significant demand for the group's structural steelwork projects".
In addition, Severfield-Rowen has also announced its acquisition of Dalton Airfield Estate Limited which owns the long leasehold title to the group's headquarters and the freehold title to just over half of Severfield-Reeve Structures Limited's fabrication facility. The total cost of the acquisition is £23.5 million.