CASE STUDY – IMPROVING OPERATIONS

Determination, grit, and steel

A global leader in steel production and engineering, Sheffield Forgemasters designs, manufactures and delivers world-class steel forgings and castings. With a long history dating back to 1750, is now capable of producing the largest and most technically challenging cast and forged steel components in the world.

An important source of revenue for Sheffield Forgemasters was its work in the defence market, where long-term programmes could often run for decades. To ensure it could continue to complete these projects for years to come, a recapitalisation plan (which would replace certain defence critical equipment on the site) was required.

But a recapitalisation plan of this scale is no easy feat, and it would eventually transform into a change of ownership and M&A process as well. Enter Hexagon. We were asked to help shape the project, and keep it moving forward.

Working closely with the Directors at Sheffield Forgemasters, we successfully led a team of project managers and operational consultants to drive the recapitalisation plan’s development.

As the team expanded, we never lost focus, and the plan began to take a clear shape. This ultimately resulted in around £500m of capital investment and the completion of acquisitions for a strategic defence nuclear supplier.

The result

“This was a significant milestone in the history of our business and it required trusted, strategic hands-on delivery support at every stage. Hexagon’s knowledge, ability to hit strict deadlines and close working relationships with our people were invaluable. They got to grips with relevant facets of our business and worked with us through the complexities demonstrating professionalism and rigour throughout.”

Stephen Hammell, CFO, Sheffield Forgemasters

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