BHP put spring in Stride deal

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Advisers from Sheffield-based BHP Corporate Finance have played a pivotal role in a deal to create a business that lays claim to being the UK’s leading stockholder of wire for spring manufacturers.

Andy Haigh, from BHP Corporate Finance, led the team advising Stride Supplies on its acquisition of fellow West Midlands-based stockholder Direct Wire, working alongside BHP’s head of advisory, David Mitchell.

Mr Mitchell said: “As retained advisors to the board, we have been closely involved with developing Stride’s strategic plan.

“The acquisition of Direct is a natural extension of this work and I am pleased that we have been able to leverage our corporate finance expertise to help deliver this important acquisition.”

Stride’s chairman, Graham Howes, praised BHP for its help in clinching the deal.

“We are very grateful to BHP Corporate Finance for their unwavering support and dedication to ensuring the transaction reached a successful conclusion,” said Mr Howes.

“This acquisition is one of a number of initiatives the board has been working on with BHP as part of Stride Supplies’ strategic business plan. We are delighted to have completed the purchase of Direct Wire and we look forward to continuing its dedication to its customers and the commitment to service and quality that is a hallmark of both companies.”