Simon Orange buys Bury steel business
William Hare Group, the £350m turnover engineered steel solutions firm, has been acquired by the prolific regional investor.
Terms of the deal are undisclosed.
Orange, brother of Take That star Jason and co-owner of Sale Sharks, sold a majority stake in his CorpAcq business to investment giant TDR Capital earlier this year in a deal valuing the business at £1bn+.
WHG said that the deal marks a new chapter for the business, formally established in 1945. Headquartered in Bury, WHG employs around 2,000 people and has nine UK sites, as well as operations in Europe, the UAE and India.
The group provides engineered and fabricated steel solutions across infrastructure, industry and transport, nuclear, energy, retail, sports and leisure, mining and metal processing, and commercial office buildings.
Projects it has supplied to include Manchester Airport’s transformation programme, MediaCity and 2 St Peter’s Square locally.
Other projects include the Hinkley Point C nuclear plant in Somerset, Battersea Power Station, several HS2 bridges, the Royal Opera House, 40 Leadenhall and 20 Fenchurch Street, aka the Walkie Talkie.
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The existing management team, including chief executive Susan Hodgkiss and director Matthew Nesbit, will continue to lead the business.
Nesbit said: “This is an exciting moment for William Hare and will support our continued growth. The business is in a really strong financial position, with historically high levels of cash, providing clients the confidence to continue trusting us to deliver the quality and outcomes that we have built our reputation on.
“In the current climate, it’s clear the market needs confidence in its supply chain and with our expertise and strong financial position we believe we are well placed to provide that and deliver world class projects across the built environment.”
Orange added: “I am thrilled to be investing in William Hare, a company with a strong culture and rich history, which is working with a broad spectrum of clients on some of the largest and most exciting buildings in the world.
“With market leading credentials in engineering, fabrication, construction and sustainability, I know that William Hare is a business that is built for the future and has an exciting role to play in the future of construction and manufacturing.”
Orange will hold the business in a personal capacity alongside some of his other investments. The portfolio built up by Altrincham-headquartered CorpAcq includes Metcalfe Plant Hire, Plant Hire UK, and Border Aggregates, along with brands such as Cotton Traders.
