Czech-based Sev.en Global Investments has expanded its portfolio with the acquisition of Celsa Nordic and Celsa Steel UK, both of which will operate under the ‘unified brand umbrella’ of 7 Steel
Celsa’s Spanish parent company sold off the UK and Nordic arms to Sev.en Global Investments as part of a wider restructuring drive to reduce debts and refocus on business in Spain.
Celsa Nordic will become 7 Steel Nordic.
The Cardiff-based Celsa Steel plant runs the country’s last remaining electric arc furnace for rod and produces around 1.2m tonnes of rebar and steel products annually using UK-sourced scrap.
The acquisition has also brought Celsa Steel UK-owned fabrication firms BRC, Express Reinforcements and ROM Group under 7 Steel, providing the new company with four scrap yards and 17 fabricator depots.
The deal is estimated to be worth around €600m (£514m)
Carles Rovira, chief executive of 7 Steel UK, said: “This marks an exciting new chapter for our business. As 7 Steel UK, we remain deeply committed to serving the UK construction sector with sustainable, high-quality steel.
“Backed by Sev.en Global Investments, we are poised to accelerate innovation and strengthen our leadership in the circular economy. Our people, our purpose, and our product have never been more aligned to the future of the UK economy and the wider UK steel sector.”
The Sev.en Group is a global player in coal mining and power generation industries
Sev.en Global Investments is part of the Sev.en Group, owned by Czech billionaire Pavel Tykač. The Group already owns UK power generation company InterGen, with 4 gas-fired power stations: Coryton, Spalding, Rocksavage, and Spalding Energy Expansion.
Other brands under the Sev.en umbrella include American met-coal mining company Blackhawk Mining (annual coal production of around 9m tonnes), Golden Eagle Land Company (which holds mining rights to more than 2bn tonnes of coal reserves), and a variety of Australian mining companies.
Alan Svoboda, chief executive of Sev.en Global Investments, said: “It is part of our strategy to enter new industries, and we believe that steel is a long-term sound investment. We will support growth, development, further innovation, and the green transition. We look forward to promising business strategies and establishing a strong market presence, leveraging our combined strengths to drive innovation and growth. Together, we will build a resilient business ready to face future challenges and unlock new opportunities.”
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