ASD Metal Services - ASD metal services acquires Westok Ltd
Leeds-based ASD metal services, the largest
independent metals stockholder and distributor in the
UK, has acquired Horbury-based Westok Limited for an
undisclosed sum.
Westok specialises in the manufacture and distribution
of special steel sections, known as cellular beams, for
use in floor and roof construction.
“This represents a further step in our process of
strategic expansion into the construction sector,” said
Martin Joyce, ASD’s chief executive. “Westok has a
highly innovative range of products and an excellent
reputation for service. We anticipate that with the
support of ASD metal services, Westok will enter a
further period of significant growth.”
In 2002 Westok Limited was bought out of administration
by a senior management team comprising managing director
Andy Holmes, production director Ashley Earnshaw and
technical director Mike Hawes, with additional
investment from a local engineering company.
The team successfully turned the company round, growing
turnover from £6 million in 2002 to around £19 million
last year. It now employs 90 people.
Managing director Andy Holmes said: “Joining forces with
ASD provides Westok with the ideal platform for future
growth. There is a tremendous synergy between the two
companies. We share many of the same customers and it
links us to a guaranteed source of steel.”
Karen Devonport, ASD’s finance director added: “Westok
has an excellent growth record in recent years. We are
delighted that the company, which will trade as ASD
Westok, will continue to be run by its existing
management team, headed by Andy Holmes.”
Westok’s shareholders were advised by a team from the
Corporate department at Leeds integrated commercial law
firm Lupton Fawcett, led by Andrew Francey and Bob
Harrap. ASD was advised by a team from DLA Piper headed
by Andrew Davies.
Lupton Fawcett’s Andrew Francey said: “This is a great
Yorkshire business success story. Westok is a wonderful
example of how a company can be transformed by a
talented management team. The acquisition by ASD is a
stepping board to further success.”
ASD metal services employs 1100 people in a nationwide
network of 29 sites. It is part of the international
group Klöckner & Co AG, the largest independent producer
and distributor of steel and metal products in the
European and North American markets combined.
Email:
steve@sourcemc.co.uk
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