voestalpine High Performance Metals UK Ltd. (former Böhler-Uddeholm (UK) Ltd) and its long-term partner CMP Alloys Ltd. (CMP) successfully completed an asset deal under which voestalpine High Performance Metals UK (HPM UK) acquired CMP the trade, its fixed assets and inventory. The agreement was signed in October 2017.
Tom Gowans, Managing Director of HPM UK comments: “We plan to build on the existing good position that CMP has in the UK market and integrate it as a branch office of HPM UK into our voestalpine Specialty Metals UK under the management of Richard Kendall. The acquisition fits perfectly with our Value Added Services’ strategy of leveraging our existing products and services portfolio as a platform for value added acquisitions to become a package provider with upside development potential.”
The acquisition is consistent with our Value Added Services’ vision to become a leading player in the global oil & gas market, positioned as an integrated member of our customers’ supply chain. With CMP’s particularly strong footprint in the Scottish market, they are perfectly positioned to service key global OEMs (and their supply chains) in the UK, increasing our customer intimacy and service offering.
“It is our main goal to establish the Specialty Metals Division to become the Premium Regional Supplier with a fast-track customer service network and our long-term commitment to deliver value added products and services to our customers. CMP is a very highly regarded supplier of Special Steels & Nickel Super Alloys with a long history of servicing the Scottish and wider UK & International markets. HPM UK has ambitious plans to continue its growth in the oil & gas market in the UK and we are delighted to extend our UK coverage with the acquisition of CMP to support our customers in Scotland and the North. Specializing in the stocking, distribution and processing of Stainless Steels, Nickel Super Alloys and Corrosion Resistant Alloys, the Böhler brand and parent company, voestalpine AG, are well known names in the global oil & gas market”, says Richard Kendall.
CMP Alloys Ltd. is a stainless steel and nickel alloy stockholding and processing company located in Kirkcaldy, Fife with annual revenue of 1.7 mGBP in 2017. Founded as a private, family-owned company in 1994 by Graham Portwood, CMP Alloys Ltd. has maintained a well-established customer base with 200+ accounts benefiting from local supply and fast delivery.
Both CMP and HPM UK are very happy with the outcome of this transaction and are looking forward to a long and profitable relationship.