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