Plans for growth after Aldridge handrails firm is acquired by construction group Colmore Tang
An Aldridge handrail-making company has been bought by fast-growing Birmingham construction firm Colmore Tang in a multi-million pound deal.
The price tag on the deal is not being revealed, but Colmore Tang says it plans to double turnover at Stainless Handrail Systems (SHS) over the next two or three years, boosting the firm's 46-strong workforce as it expands.
Based on the Westpoint business park, SHS has more than 25 years' experience in designing, manufacturing, supplying and installing handrails, balustrading and glass products.
It's work has featured on TV building programmes including George Clark's Ugly House to Lovely House on Channel 4.
Colmore Tang was set up just four years ago and is the firm that transformed the former Point North office block at The Waterfront in Brierley Hill into 181 luxury apartments in a project called The Landmark.
It has now taken a controlling interest in SHS after being impressed by the quality of the work it carried out on a number of projects for Colmore Tang.
Colmore Tang group chief executive Andy Robinson said: “We recognised this as a superb opportunity to acquire a successful business that easily integrates into our supply chain.
“SHS has grown quickly over the last few years under the excellent guidance of its founders and this gives us a strong platform to take the business forward and grow both the product range and customer base significantly.
“I would personally like to acknowledge the efforts of the directors who have built a great manufacturing business that is in an excellent position to enter new markets and is prime for continued growth.”
Colmore Tang’s existing relationship with the manufacturer has seen it install SHS products on two of its most-recently completed projects in Birmingham; Fabrick Square in Digbeth and Ridley House, adjacent to The Mailbox.
“We were really impressed with the quality of the products installed by SHS at Fabrick Square and Ridley House,” continued Andy. “We always take great pride in the finer details and finishing touches of our projects and our acquisition of SHS will only reinforce this further.”
Colmore Tang will look to double turnover for SHS over the next two to three years through a further push into the b;usines-to-business market.
Andy added: “With our expertise in the industry we see that there is huge growth potential for SHS to move into new sectors. We are looking forward to working alongside the company’s existing workforce to drive forward an increasingly profitable business.”
Sean Gilbert, who continues as non-executive chairman for SHS, said: “We are really excited about the direction in which the business is moving and we’re very much looking forward to seeing it flourish as part of the Colmore Tang Group.”
Stainless Handrail Systems was one of the many firms to benefit from the Green Shoots Plus business investment scheme – backed by the Government's Regional Growth Fund and delivered locally by the Express & Star and University of Wolverhampton – benefiting from £46,500 in a project that secured six jobs.
Colmore Tang Construction recently moved into a new 12,000 sq headquarters building it refurbished itself at Fiveways in Birmingham as a showpiece for the quality and workmanship it can deliver.
With a core team that has grown to 75 it is one of the country’s fastest-growing contractors, operating on sites across the UK and on-track for turnover of around £80 million in the current year.
To date, CTC has delivered 1.45 million sq f t of construction projects across 1,500 homes, a 253-bedroom four-star hotel – the first Park Regis hotel in Europe – 100,000 sq f t of BREEAM-certified industrial units and substantial high-end interior refurbishments.
The contractor currently has a pipeline of work through until 2021, including a commitment for a further 3,500 homes.
The company is now looking for a suitable site along the M4 corridor to open a second office, which will serve as a project office for its sites in the South of England.