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By Jordan Marshall2021-02-26T10:13:00+00:00
Dam Structures has worked on several big London station jobs
The country’s biggest steelwork contractor has bought Yorkshire rival Dam Structures to beef up its railway business in a deal worth up to £27m.
Severfield, which is based in North Yorkshire, has paid an initial £12m for the Bridlington-based firm which in its last set of results posted a £22.3m turnover and a pre-tax profit of £1.9m for the year to October 2019.
Severfield boss Alan Dunsmore saiid the move will allow it to break into the rail electrification market
A further £7m is set to be paid next year with an additional £8m due to be handed over provided the firm hits a series of performance milestones over the next five years.
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