24th April 2008
The Bolton office of leading accountancy firm, Cowgill Holloway, has advised HS Steel UK Limited on its acquisition of Abraclean Ltd, a Stockport-based manufacturer and retailer of abrasive blast cleaning equipment.
HS Steel UK Limited is the group holding company for Shakespeare Foundry Limited. Shakespeare Foundry is headquartered in Bolton and specialises in manufacturing heat resistant components for the cement and mining industries.
The transaction was led by Cowgill Holloway partner, Paul Stringer, and follows the purchase of North East-based James Hogg & Sons Limited in 2007, which expanded the group’s geographical presence in the UK.
Paul Stringer commented: “We hold a long-standing relationship with the owners of HS Steel UK. This has allowed us to develop an intimate knowledge of the business and its future plans. We were keen to find a business that would complement the reputation of Shakespeare and add value to the group by offering new services”.
“The addition of Abraclean to the group has certainly met this objective and we are excited by the prospects which lie ahead.”
NatWest and RBS Invoice Finance provided funding for the acquisition. Legal advice was provided by Corporateblue solicitors.
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