Stemcor acquires UK steel stockholder Barclay & Mathieson
Stemcor, the world’s largest independent steel trader, today announced that it has acquired 100% of the share capital of UK steel stockholder Barclay and Mathieson Limited. The acquisition strengthens Stemcor’s stockholding footprint in the UK and builds on last year’s purchase of Steel Plate & Sections Ltd (SPS).
B&M is a general steel stockholder with 12 depots concentrated in the Midlands, North of England and Scotland. Through an associate company also acquired by Stemcor, B&M offers processing services, general fabrication work and structural steelwork.
Stemcor’s Executive Chairman, Ralph Oppenheimer, said: ‘Barclay & Mathieson is an established stockholder with a 130-year history and a solid reputation in the UK market. I believe that the business has strong prospects as part of Stemcor’s growing distribution and stockholding business.’
Jim Walker, the current managing director of B&M, will remain in place and oversee the change of ownership. B&M’s existing management team will be retained.