Contractor pays 拢21m for 拢65m turnover business
The UK鈥檚 biggest steelwork contractor is splashing out 拢21m on Dutch steelwork contractor Voortman Steel Construction.
Severfield said its deal for Voortman will allow it to gain a foothold in the Netherlands and neighbouring countries.
Voortman, which is based in Rijssen in the east of the country and employs around 250 people, had a turnover of 拢65m in 2021 and earnings of 拢4m.
Severfield said Voortman had a 5% of the 拢1.1bn Dutch steel market and had 鈥渢he capacity and resources to compete for larger, more complex, higher value projects鈥�. It added the firm had 鈥渁ccess to the fast growing Dutch electricity distribution market鈥�.
The deal is expected to wrap up by early April.
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