Business magnate Simon Orange purchases steel conglomerate in major takeover deal.
A New Chapter for Sale Sharks Co-Owner Simon Orange
Simon Orange, the flamboyant force behind Sale Sharks and an ex-Take That family member, has made a major move in the business world, scooping up a hefty chunk of William Hare, Britain's second-largest steel contractor. This bold movement comes just a few months following the £1bn sale of his investment empire to TDR Capital.
The Greater Manchester-based William Hare, with roots stretching back to 1888, will see Orange as their new majority shareholder, albeit the exact sum he's shelled out remains a mystery. The current management team is set to remain in their posts, promising business as usual.
As reported by Building.com, the deal is music to the ears of William Hare's stakeholders. The company clocked a turnover of £315.5m for 2023, a substantial leap from £248.3m the previous year. They also managed to bounce back from a 2022 loss of £853,000, posting a total pre-tax profit of £5.7m.
The looming deadline for filing William Hare's 2024 accounts approaches at the end of September, keeping the intrigue high. The company's impressive portfolio boasts work on iconic projects such as MediaCity in Salford, Aldar's headquarters in Abu Dhabi, and the Bloomberg building in the City of London.
With City AM reaching out to both parties for a comment, details on Simon Orange's grand plan for William Hare are yet to unfold.
Orange's Recent Business Ventures and the Billion-Pound Deal
In January, Orange hit the headlines when he sealed a deal worth more than £1bn, selling his empire to TDR Capital. His CorpAcq conglomerate, nestled in Cheshire, houses over 40 businesses in its portfolio, including Cotton Traders. This transaction came almost 18 months after CorpAcq announced its plans to merge with a special purpose acquisition company (SPAC) founded by Michael Klein, although the move was officially scrapped in August 2023 due to challenging IPO market conditions[1].
For those asking about the enrichment data: The deal values Orange's business empire at over £1bn, and CorpAcq's portfolio consists of more than 40 businesses. William Hare is a UK market leader in engineering, fabrication, and construction, with an impressive turnover of £350 million and around 2,000 employees. The acquisition serves as a stepping stone for growth, with plans to strengthen the supply chain and deliver world-class projects. Orange expressed his excitement about investing in a company with a robust culture and history. Further details regarding the purchase price and future growth strategies are yet to be disclosed.
- Simon Orange's recent business ventures extend beyond the sports industry, as he has made significant investments in the finance and property sectors, including the acquisition of a majority stake in William Hare, a UK market leader in engineering, fabrication, and construction.
- Orange's financial business empire, sold to TDR Capital for over £1bn, comprises more than 40 businesses and has proven to be a valuable asset, providing capital to invest in strategic acquisitions, such as the acquisition of William Hare, in the property, industry, and finance sectors.
