Benbow Steels sold to Tegu Group

Established in 2006, Benbow Steels is a leading independent colour coated steel stockholder, supplying pre-painted steel sheets and coil to a number of industries across the UK and Ireland.

The owners have developed a strong culture based around their staff and built the business on three key pillars; strong supplier relationships, the highest level of customer service, and unrivalled delivery times. Their forward-thinking strategies and high level of organisation have ensured the continuous and sustainable growth of the business.

Benbow Steels received significant interest from both trade buyers and investors from across the UK and overseas. The highly detailed and sophisticated data available for potential purchasers allowed quick progression, with one party with significant M&A knowledge highlighting that the Information Memorandum was one of the best he had ever seen.

A number of competitive bids were received, but the successful buyer, Tegu Group, stood out as offering the best fit for Benbow Steels for the long-term future. Tegu has significant experience in investing in a diverse group of industrial businesses internationally, and Benbow Steels’ shareholders will stay on to ensure the continued success of the business and deliver a successful transition to the new owners.

“We chose Avondale to represent us as they understood us as people, and our business, from the very beginning. They guided us through the very complex process with such expertise and compassion that we were able to trust their judgments and guidance throughout the process to ensure we got the best possible result for both us and our business.”

Benbow Steels

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