Management buyout at Servosteel
Steelstrip Services, which trades as Servosteel in Pensnett Road, Dudley, has announced new ownership following a successful management buyout led by its existing senior leadership team.
The MBO sees the team made up of Steven Dickens, Darryl Macready, Sarah Ostins and Richard Burton take full control of the business, with its former owners Mark Anderson and Phillip Guest stepping aside following a successful eight-year tenure that saw the business return to independent ownership.
With extensive industry knowledge the new ownership team are well placed to take the business forward; ensuring a smooth transition, continuity and a business as usual approach.
Mr Dickens, the commercial director, has more than20 years of experience within the steel industry and has operated in sales, purchasing and management, bringing expertise in the stockholder, service centre and mill producer sectors.
Mr Macready joined Servosteel in 2017, being appointed operations director in 2018. With over 25 years of experience in operational, quality and safety management roles, and possesses a wealth of knowledge in steel processing for the end-user markets.
Sarah Ostins, finance and HR director has been at Servosteel since 2003 starting her career as an accounts clerk and is now an integral part of the senior management team.
Mr Burton, IT and systems director, has worked at Servosteel for over 30 years starting on a work experience placement whilst graduating with BSc (Hons) in Computer Science bringing a wealth of knowledge and experience to the team.
Mr Dickens said: “We are delighted to have completed the MBO and are excited to build on the excellent platform already established. We are confident we can lead the business into a new and even more successful era through further growth and diversification”.
“We would like to express our gratitude to all our loyal customers, suppliers, staff and of course Mark Anderson and Phillip Guest for their continuous support and we look forward to building on these long-standing relationships whilst maintaining our position as the UK’s number one toll processor.”
Mark Anderson and Phillip Guest, commented “The MBO Team have a proven track record at Servosteel and we would like to take this opportunity to wish them every success – we know the business is in good hands”
Servosteel, which employs more than 100, provides a wide range of processing and storage services to the steel industry which includes coil pickling, slitting, decoiling, coil recovery, blanking and laser services.
Servosteel oversees an annual capacity of more than 500,000 tonnes of steel all situated in its centrally located warehouse offering multiple processing and storage options.
