William Hare Group has acquired Wigan’s Eiffel Steelworks out of administration saving 60 jobs at the firm.
The structural steel fabricator and erector went into administration on 17 November with accountancy firm Smith & Williamson appointed to manage the business.
William Hare Group bought the business out of administration to complement its operations across Lancashire and Yorkshire providing fabrication, plating and welding of structural steelwork.
The sale of the business has saved 60 jobs, which were put under threat when the company entered administration.
Smith & Williamson partner Matthew Dunham said: “The decision to keep trading and so maintain the order book has made the business more attractive to potential buyers.
“We received interest from a number of parties and are delighted to have achieved this sale.”
Eiffel Steelworks has worked for clients including Laing O’Rourke and Canary Wharf Group, and has provided structural steelwork for Canary Wharf, the Olympic Stadium and the Liverpool One shopping centre.
It was founded in 1986 as Horwich Steelworks, and was acquired by Eiffel UK, a subsidiary of French company Eiffage Construction Métallique, part of the Eiffage Group, in 2007.
In its financial results for the 12 months to 31 December 2013, Eiffel Steelworks reported a 60 per cent fall in turnover to £0.97m, compared with £2.4m in 2012.
The company also reported a pre-tax loss of £1.5m, compared with a profit of £0.8m in 2013.
It said the loss was due to “a very competitive market and lack of vision in the company name”. It added that “industry downturn” and “the government further reducing spending” were business risks for 2014.