Basic materials & Industrial minerals
€38m
Great Britain GB

Scope of intervention

Sycomore Corporate Finance acted as exclusive financial advisor to the Steetley Dolomite and to its shareholders

Date of closing

October 2014
Lhoist Group, the Belgium-based company engaged in the production and supply of lime and lime-based products has acquired Steetley Dolomite, the UK-based producer and supplier of dolime products.

The acquisition allows Lhoist to supply dolime to customers in the UK steel industry for the first time, as well as providing an additional supply source for its non-UK dolime customers.

In addition, the acquisition of Steetley adds new products to the Lhoist portfolio, opening further opportunities to supply dolime to customers in the refractory and steel sectors.

The transaction also secures the future of the Steetley business on a stable, long-term footing as part of an experienced international company.

John Carlill will remain on the board of Steetley and assume a broader role within the Lhoist Group. The other directors are committed to ensure a transition phase for as long as needed.

Rationale

  • Allow Lhoist to supply dolime to customers in the UK steel industry as well as providing an additional supply source for non-UK dolime customers
  • Broaden Lhoist products portfolio, opening further opportunities to supply dolime to customers in the refractory and steel sectors
  • Secure the future of Steetley business on a stable, long-term footing as part of an experienced international company

Steetley Dolomit at a glance

Steetley is a UK-based producer of dolime products, primarily supplying customers in the steel industry. Steetley was established in 2004, following a management buy-out of the former UK dolime production assets of Lafarge.

Lhoist at a glance

Lhoist is one of the world’s largest producers of lime, dolime and minerals. With headquarters in Belgium, Lhoist is present in 25 countries with more than 90 facilities around the globe. Lhoist differentiates its business by being close to its customers, understanding their needs and providing them with the high-quality products their activities require.