Midland Steel Traders acquired by USCO
Durham-based specialist in undercarriage and wear parts acquired by Italian supplier
MIDLAND Steel Traders Ltd (MST), UK-based specialists in undercarriage and wear parts, have been purchased by their Italian suppliers USCO SpA.
Formed in 1963 in Walsall by Ken Whitehall, MST have become a UK market leader in the distribution of high-quality undercarriage and ground-engaging tools (GET). The family owned business, now headquartered in Durham, includes three regional service workshops and two manufacturing and repair facilities for excavator and loader buckets, with the company supplying some of the largest units ever manufactured from their Sunderland workshop.
The USCO Group, based in the city of Modena and established in 1989 by Massimo Galassini, have grown to be a dominant force in the design, manufacture and distribution of undercarriage components, ground-engaging tools, repair and wear parts throughout the world. Today they operate through four strategically located production centres in Italy, Spain, South Korea and China, with regional distribution and service centres throughout Europe, North and South America, Africa, the Middle East and Australia.
The recent acquisition will see MST and their customers benefitting from the resources available through the USCO Group, whilst the Italian company will gain access to MST’s engineering expertise in the manufacture of bespoke buckets and attachments for the earthmoving, dredging, quarrying and demolition sectors.
Seeking to build on the dominance of the MST brand, the management structure within the company will be developed to reflect the change in ownership, with Rory Whitehall becoming managing director and Nick Fagandini joining existing director Alan Montgomery on the board. John Whitehall, current owner and managing director of MST, will continue within the business as group consultant.
‘On one side, we will enjoy the massive backing from the global presence of USCO, and on the other, the current top management team will remain the same,’ explained Rory Whitehall. ‘The MST name and our family values will still remain throughout the business. It is a great step forward for us, as we near our 50th anniversary, and for our customers to become part of the USCO global network.’
Massimo Galassini said: ‘We firmly believe that this transaction represents a further step in the development of our global footprint as well as in the consolidation of the USCO Group position as a recognized worldwide leader.’