UK-based steel distributor Barrett Steel has announced that it has acquired engineering steel products distributor Aartee Bright Bar’s (ABB) distribution sites and Bright Bar facility for £13 million.
The acquired sites located in Rugby, Bolton, Newport and Southampton will now trade as Barrett Engineering Steel Rugby, Barrett Engineering Steel Bolton, Barrett Engineering Steel Newport and Barrett Engineering Steel South.
In addition, Aartee Bright Bar’s hot rolled site in Dudley is not included in the acquisition, leading it to be liquidated.
Meanwhile, this acquisition thwarts attempts by UK-based GFG Alliance to purchase the company. GFG Alliance had previously announced its business plan for the company with the aim of securing 250 jobs in the West Midlands and across the UK, as SteelOrbis previously reported.
