Singapore-based Aar Tee Industries Holdings Pte Limited, a global metals trading business with hubs in London, Dubai, Hong Kong and Singapore, has announced that it has acquired Acenta Steel, the UK’s largest independent processor and distributor of bright and engineering steel bars, for an undisclosed price.
According to the company’s statement, headquartered in Willenhall, West Midlands, in 2017 Acenta Steel achieved a turnover of £70 million across its six sites in the UK with 350 employees. Its products are used in precision-finished material for component manufacture in wide ranging and demanding engineering applications such as engine, driveline and suspension parts, hydraulic valves and household goods.
The transaction provides Aar Tee with a market-leading platform and a strong brand name to help establish its industrial presence in the UK while it continues to leverage its strong trading base in metals and raw materials for the steel sector.
“Our investment in Acenta Steel is a new milestone for the Aar Tee Group. We are very excited to be entering the manufacturing sector in the UK and have big ambitions to grow in this space through investment and innovation,” stated Ravi Trehan, founder and chairman of Aar Tee. He added that this industrial investment was inspired by the success of Sanjeev Gupta’s Liberty House Group.