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Voortman Steel Group sells one of its divisions: Voortman Steel Construction Holding to Severfield
Voortman Steel Construction Holding has been acquired by Severfield, a publicly traded steel company from the UK. This is a major, but certainly well-considered step for the Voortman family-owned company. It gives both Voortman Steel Machinery Holding and Voortman Steel Construction Holding the opportunity to grow and to meet the future with confidence.
Voortman Steel Group consists of several companies operating from two divisions: Voortman Steel Machinery Holding and Voortman Steel Construction Holding.Voortman Steel Machinery Holding is a well-known player in machinery for the steel fabrication and manufacturing industry and operates internationally. The machines are developed and built in Rijssen and transported all over the world, with solid after-sales service to support customers. It also supplies integrated software solutions. This means the customer is offered a complete solution. The head office is in Rijssen, where product development and production take place. Voortman Steel Machinery Holding also has various Sales and Service offices in Europe, the USA and Australia and a software company in the UK.
Voortman Steel Construction Holding includes the similarly-named company Voortman Steel Construction, Voortman De Haven and Voortman Design & Build. Voortman Steel Construction designs and builds high-quality steel structures and provides roofing and cladding for the utilities, industry and energy sectors and is located in Rijssen. It also has a branch office in Maassluis, Voortman de Haven. All customers are served from these two locations. Voortman Design & Build fulfils the role of main contractor and implements turn-key commercial premises projects for a diverse range of customers
www.vsc.nl
Focus on growth and continuity in both divisions thanks to acquisition
Voortman Steel Machinery Holding has grown considerably in recent years. In addition, internationalisation and digitalisation require more and more focus. Mark Voortman (CEO of Voortman Steel Group) has decided to focus on this in the future in order to be able to fulfil all the opportunities and continue to facilitate the steady growth both autonomously and through acquisitions in machines, services and software.
Voortman Steel Construction Holding has also grown considerably in recent years. Thanks to growth and sustainability in utilities, industry and energy sectors, there are considerable opportunities in those sectors, which will also require focus in the coming years. In order to guarantee continuity and growth in this division as well, Mark Voortman has decided to sell Voortman Steel Construction Holding to a party that can and wants to give it the attention it needs. That party is Severfield.
"It is a business with a long-term vision which is eager to take the company further. Severfield wants to focus on continuity and responsible growth. In recent years, Severfield has also shown this. Through both organic growth and previous acquisitions, they have built a stable foundation. For me, continuity was decisive”, says Mark. "I am convinced that there are plenty of opportunities to further develop the organisation. This acquisition will give all companies the attention they deserve."
About Severfield
Severfield has six production sites in the UK, and for a number of years they have also had a sales and projects office in the Netherlands in Zevenbergen. In the UK, Severfield processes around 150,000 tonnes of steel annually, generates 450 million in sales and employs around 1,700 people. In addition to the production sites in the UK, Severfield also has a joint-venture in India where an additional 150,000 tonnes of steel are processed.
The acquisition of Voortman Steel Construction Holding offers Severfield opportunities to achieve further growth within Europe. Alan Dunsmore, CEO of Severfield: "We believe that the combination of the two companies results in a broadening of our service offering and the possibility to grow in different sectors and regions. The acquisition will further strengthen our position in a growing European market and provide opportunities for further profitable growth".
What does this mean for employees?
The three Voortman Steel Construction Holding companies employ around 140 permanent staff. Turnover (2022) is just under 100 million euros. In fact, nothing will change for employees. “Our people have years of experience in the field and have a wealth of knowledge,” says Mark. "Their engagement and loyalty is high. I want to foster that and so do Severfield. Severfield's aim is to further develop the organisation together with its employees."
Formal acquisition
On 3 April 2023, the takeover is expected to become formal, with retroactive effect from 1 January 2023.
Contact information
The contact person on behalf of Voortman is Mark Voortman (CEO Voortman Steel Group).
Voortman Steel Group
Plaagslagen 16
7463 PH RIJSSEN
Tel: +31 548 539000
m.voortman@voortman.net