Barrett Steel, the UK’s largest independent steel stockholder, has taken an assignment of the lease for the steel premises at Shoreham Port on Tuesday of this week. Ten years ago, Shoreham Port invested in a modern state-of-the-art steel terminal with quayside facilities, which until this week had been leased out to John Parker & Son, who went into administration on Tuesday. Shoreham Port are delighted to welcome Barrett Steel to the premises, with their first shipment of steel expected to arrive in the coming week.
Having been established in 1866, Barrett Steel have over 150 years of experience in the steel stockholding industry and are at the forefront of the sector. This acquisition has resulted in the growth of the 6th generation family steel businesses network to 27 locations across the UK, providing Barrett Steel with an ideal base to service and support customers in the South of England.
In addition to the lease, the acquisition also sees Barrett Steel acquire extensive processing equipment on the site including shot blast prime and paint facilities alongside 6 additional Endeavour Saw-Drill lines. The move has also secured the jobs of over 50 employees from the previous site.
Expansion into the South of England is the latest of many investments for the group in recent years, as Barrett Steel has encouraged the development of its Scotland and Ireland businesses as well as investing heavily in state-of-the-art processing equipment and ensuring a modern and efficient transport fleet across its sites. The group also pride themselves on their high levels of customer service as a progressive, problem-solving steel stockholder.
James Barrett, Group Managing Director at Barrett Steel commented: “This acquisition allows the Group to develop its presence in the South of England which complements our existing processing hubs in the North. We are excited to welcome the Shoreham team to our business and are positive about the future of the steel industry.”
Rodney Lunn, Chief Executive at Shoreham Port commented “We have had the pleasure of meeting many of the Barrett Steel senior management team over the last couple of weeks and are really pleased to sign all of the leases over to them, as we feel their vision and values for the future very much align with those of Shoreham Port. It is great to have such a strong and well respected partner running the steel facility.”