Businessman Dan Houghton back in control of Steelway

Shropshire businessman Dan Houghton is back in control of an 82-year-old West Midlands business after completing a major takeover deal.

It is 10 years since Mr Houghton, who lives at Harley, near Much Wenlock, first bought the Steelway group of companies, which operates three businesses from two sites, in Bilston and West Bromwich in the Black Country.

Steelway produces metal flooring, walkways, staircases, platforms, ladders, fire escapes, handrails, balustrades, architectural metalwork and general fabrications in mild steel, aluminium, stainless steel and GRP.

Steelway Fensecure manufactures a range of steel fencing and gates to suit play areas, residential applications, parks, sports areas as well as heritage fencing, security fencing, multi-use games areas, street furniture and teenage shelters.

Steelway Brickhouse produces fabrications for use in the water, sewerage, telecommunication, power, rail, domestic and industrial and commercial markets in mild steel, stainless steel and aluminium. The current portfolio also includes anti-terrorist and high-security products.

Restoration

Steelway Rail manufactures heritage, architectural, and construction products for the rail industry and was involved in the restoration of Moor Street Station in Birmingham.

Advised by Andy Kay, Midlands corporate finance director at accountants Horwath Clark Whitehill, Mr Houghton and business partner Walter Karpynec first acquired Steelway in 2000.

The business was sold to Brigam Group, the Wolverhampton-based industrial group built up by chairman Sul Sahota, in 2005.

Dan Houghton said: "Sul asked me to come back as MD in 2006 and I am still here.

"Major investment has taken place under the Brigam Group's ownership, with the introduction of 3D design capability, and in January this year a £400,000 laser metal cutting facility.

"We first had a conversation about Steelway in February this year. Brigam were not looking to sell and I wasn't looking to buy but the dialogue continued and we ended up concluding a deal."

Mr Houghton, who has lived in Shropshire for 20 years and has significant farming interests in the Harley area, is also establishing a new business, the Heritage Painting Company, based in Harley, to paint the metalwork Steelway produces for specialist projects.

Andy Kay, who also advised Mr Houghton on his first Steelway purchase, acted for him again in the latest deal.

He said: "This is a business that Dan has known for 25 years. It was established in 1928 and now employs around 180 people.

"Dan's in-depth knowledge of the business, its people and its products meant that he was the natural choice to take Steelway on again.

"He intends to take Steelway up to the next level and has some exciting plans."

Excellent

Dan Houghton said: "Steelway has an excellent reputation in its marketplace and it has a lot of good people, many of whom I have worked with for a good few years.

"I feel the business has come home now and I don't have an exit strategy this time, other than to grow the management team to take over the reins eventually."

Mr Houghton was advised by Andy Kay and Gary Davie of Birmingham law firm Shakespeare Putsman. Funding was arranged by Mark Harris and Jon Myerscough of Lloyds TSB. London solicitors Slaughter & May and Birmingham's DLA Piper advised Brigam Ltd.