The UK’s largest supplier of construction rebar has been snapped up by Czech billionaire Pavel Tykač in the latest major shake-up in the steel products sector.

Cardiff-based Celsa Steel UK is now under the control of Sev.en Global Investments, the industrial arm of one of Europe’s wealthiest individuals.

The rebar giant is being rebranded 7 Steel UK, with the new owner promising business continuity for contractors and long-term investment into low-carbon steel production.

The acquisition will also expand the workforce as Sev.en Global Investments integrates an additional 2700 of the steel companies´ employees.

Alan Svoboda, CEO, Sev.en Global Investments, said: “I am very pleased with the successful completion of the acquisition of several innovative and specialised steel companies. It is part of our strategy to enter new industries, and we believe that steel is a long-term sound investment. We will support growth, development, further innovation, and the green transition. We look forward to promising business strategies and establishing a strong market presence, leveraging our combined strengths to drive innovation and growth. Together, we will build a resilient business ready to face future challenges and unlock new opportunities.”

Carles Rovira, CEO of 7 Steel UK, added: “This marks an exciting new chapter for our business. As 7 Steel UK, we remain deeply committed to serving the UK construction sector with sustainable, high-quality steel. Backed by Sev.en Global Investments, we are poised to accelerate innovation and strengthen our leadership in the circular economy. Our people, our purpose, and our product have never been more aligned to the future of the UK economy and the wider UK Steel sector.”