Barrett’s show of steel as it acquires Northern Ireland firm

The Bradford-based company has bought a steel stockholding business at Maghaberry, near Lisburn, Northern Ireland from the Sherling Group for an undisclosed sum.

The company, which will trade as Barrett Steel Ireland, will join the growing portfolio of businesses in the general steel division of Barrett Steel. Barrett Steel made its first acquisition in Northern Ireland in May 2012, when it bought the business of Austin Trumanns Ireland, securing 18 jobs in both Northern Ireland and the Republic of Ireland. Investment in the Newry facility has already brought the site back into profit, with a projected turnover this year of £14m.

Established in 1866, Barrett Steel has expanded organically and by acquisition to become the UK’s largest independent steel stockholder. The group has 42 companies operating from 28 locations across the UK. Total group turnover is around £261m, and it employs 1,000 staff altogether.