Higgs plays key role for USP in purchase of Dudley-based United Steels

Higgs’ team of highly-regarded corporate lawyers advised USP on its purchase of Dudley-based decoiler United Steels.

The deal, spearheaded by Higgs Head of Corporate Richard Griffiths, came under the umbrella of parent company USPS Group.

The new combined company is now one of the largest mill partnered independent steel distributors and processors in the UK.

USP was founded in 2016 by Glyn Costigan and has grown exponentially since. The business buys 15,000 t/month of hot-rolled coil and has been named in various national lists for successful and growing businesses. United Steels’ processing capabilities are from 1000mm to 2100mm wide and 0.4mm to 25mm thick.

Mr Costigan said the acquisition would help the business increase market share and presence nationwide.

“The acquisition marks a further significant step for USPS Group,” he said. “United Steels’ brilliant range of processing capabilities, including decoiling and slitting, will further support planned growth and, of course, increase the stability of our group structure.

“The advice and support from Richard and Higgs was invaluable as we navigated through the deal from start to finish. “Without doubt, our businesses are stronger together.”

As part of the transaction, United Steels managing director Mark Unitt will receive a stake in the business and will continue his role as managing director.

Mr Griffiths said: “We were delighted to advise USP on a deal that significantly strengths its position in the market and also safeguards the future of United Steels.

“We were able to assist across a range of aspects of the acquisition, including structuring the deal and the grant of the new lease of the trading premises. We hope the new-look company continues to go from strength to strength in the years to come.”

Mr Griffiths was assisted by his colleagues Dan Southall, Maria Nicol and Elizabeth Wood.