German Growth For Galvanizing Leaders
10 August 2011
The UK’s largest hot dip galvanizing organisation is continuing its expansion into global markets after doubling its stake in a German-based business.
B.E. Wedge Holdings Ltd has grown its share in Siegener Verzinkerei Holding GmbH from 24.5% to 49% after securing an £11.5million investment package from Lloyds Bank Corporate Markets. The additional investment has enabled Siegener to acquire the remaining two thirds of the widely respected Dutch galvanizing company NedCoat Group B.V, the largest galvanizing group in Holland, with interests in Belgium.
The move will enable B.E. Wedge Holdings Ltd to enhance its already strong presence across continental Europe. German based Siegener will now have wholly-owned subsidiaries in the Netherlands and Belgium as well as joint ventures in Czech Republic, Slovakia and Turkey.
Founded in Willenhall, West Midlands by John Wedge, and with a history in galvanizing dating back 150 years, the family-controlled B.E. Wedge Holdings Ltd has a group turnover in excess of £95 million and enjoys a 30% share of the UK galvanizing market.
It currently operates a network of 14 galvanizing plants across the UK under Wedge Group Galvanizing Ltd. In addition to its growing reputation across Europe, B E Wedge Holdings portfolio also includes the USA-based wholly-owned subsidiary South Atlantic Galvanizers, as well as holding a 50% share in Galvan SpA, a large galvanizing specialist in Italy.
The firm also owns Hasco-Thermic Ltd, a leading UK designer, manufacturer and supplier of advanced-technology galvanizing equipment. Jon Parsons, Financial Director of B.E. Wedge, commented: “While our roots remain very much in the West Midlands, as a company we are committed to driving forward growth throughout not just the UK, but internationally too.
Securing this funding package has enabled us to increase our stake in Siegener Verzinkerei Holding GmbH, which will allow us to increase our presence in a business that is already successful and ensure we are in a strong position for future growth and prosperity.” Jeremy Woolridge, Chairman of B.E. Wedge Holdings Ltd, said: “This deal takes place at a particularly exciting time for the company.
As well as continuing our long-standing policy of international expansion, which now encompasses over 40 facilities worldwide, we are also pressing ahead with additional investment in the UK, with the construction of a new £5m state-of-the-art galvanizing plant at South East Galvanizers in Witham, Essex due to start next month.”
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Wedge Galv Ltd
