Management buyout of Midlands steel firm

A BLACK Country steel firm is under new ownership following a management buyout.

Servosteel is an independent steel toll processor and storage company and operates from a 200,000 sq ft factory in Dudley where it has more than 100 employees.

It now has a new senior leadership and ownership team in place, led by directors Steven Dickens, Darryl Macready, Sarah Ostins and Richard Burton.

Mr Dickens, who is the firm’s commercial director, has more than 20 years of experience within the steel industry and has operated in sales, purchasing and management, bringing expertise in the stockholder, service centre and mill producer sectors.

Mr Macready joined Servosteel in 2017 and was made operations director a year later, bringing more than two decades of experience in operational, quality and safety management roles.

Sarah Ostins, is finance and HR director and has been at Servosteel since 2003 where she started as an accounts clerk before progressing to the senior management team.

Completing the new ownership team is IT and systems director Richard Burton who has worked at the company for more than 30 years after starting on a work experience placement while still a student.

Previous owners Mark Anderson and Phillip Guest have exited the company after eight years in charge during which time they returned it to independent ownership.

Mr Dickens said: “We are delighted to have completed the MBO and are excited to build on the excellent platform already established.

“We are confident we can lead the business into a new and even more successful era through further growth and diversification.

“We would like to express our gratitude to all our loyal customers, suppliers, staff and of course Mark Anderson and Phillip Guest for their continuous support and we look forward to building on these long-standing relationships while maintaining our position as the UK’s number one toll processor.”