Avon Steel sold to investment firm Breal Capital saving 49 jobs | City & Business | Finance

Avon Steel was founded in 1981 and serves the South West and South Wales from its sites in Midsomer Norton in Somerset and Plymouth. 

The family-run firm had built up to a turnover of £12m has been bought by investment firm Breal Capital.

Graham Randall, of restructuring specialists Quantuma, which helped achieve the deal, said: “Trading conditions this year were very tough and the company very quickly found itself facing potential closure as supplies and consequently cash dried up.  

“There was a very real threat that if a share sale could not be achieved the company faced administration, but the directors took action quickly and instructed Quantuma to look for a buyer in an accelerated timeframe. 

“There were significant levels of interest in the business and we are delighted that Breal Capital, who already own successful companies in the sector, have used their financial backing and industry expertise to act decisively in securing the future of the company and the jobs of its 49 staff.”   

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