Kiveton Park Steel Rescued After Being In Administration for Nine Months Henry Dickinson Buys Historic Yorkshire Manufacturer 30.06.2016 David Shirt, Press Officer | 0161 838 3094 Around 50 jobs have been saved at Sheffield-based Kiveton Park Steel after the business was bought out of administration. Kiveton Park Steel, which has major contracts including a global car parts manufacturer, has been purchased by Henry Dickinson and will continue to operate from its existing 15-acre site on Dog Kennel Hill. Established in 1922, Kiveton Park Steel is a world class manufacturer of drawn steel bar and wire, with a full suite of in-house capabilities available also on a sub-contract basis, including acid cleaning, heat treatment, peeling, drawing, heat treatment, automated ultrasonic inspection and mechanical testing, with both automotive and aerospace accreditations. The business went into administration last September and at the time the administrators, FRP Advisory, said it had faced "unsustainable pressure on its cash-flow due to a sharp deterioration within the specialist steel market". Following talks with a number of interested parties, the business has now been bought by Henry Dickinson. The buyer is looking to safeguard around 50 jobs as part of the deal. The transaction has been supported by ABN AMRO Commercial Finance. Its comprehensive asset based lending package provides acquisition funding for the deal and growth finance for the business. ABN AMRO Commercial Finance was advised by Dean Gormley, Banking & Finance partner at Irwin Mitchell. James Elliott, Business Development Manager at ABN AMRO, said: "The UK steel industry continues to face some very tough trading conditions and this rescue deal therefore provides some much needed positivity for the sector. Henry Dickinson is looking to take the business forward and is confident that Kiveton Park Steel, with its processing capability and loyal customer base, has a viable future." Key contact Dean Gormley Partner +44 (0)779 556 1722 Email Dean Press contact David Shirt BLS PR Manager 0161 838 3094 Email David Related articles 15.02.2017Cocoon Aims To Secure £2.5m For Latest Expansion Drive 14.02.2017Serious Fraud Office - The Big Funding Debate 14.02.2017Inflation Rises As UK Feels Effect Of Weak Pound Post-Brexit Vote 10.02.2017Today's Court Of Appeal Ruling To Have Impact on Uber And Other Firms In 'The Gig Economy' 09.02.2017Court Of Appeal Employment Ruling To Have Impact on 'Gig Economy'