Marshall was a specialist supplier to Billington and boasted Balfour Beatty, Westfield Towns and William Hares among its other customers.

The steelwork firm paid administrators £98,000 for stock and work in progress previously valued at £250,000. The deal also includes a forward order book of £1.3m.

Steve Fareham, chief executive of Billington, said: “The board is delighted that we were able to move quickly and take up the opportunity to acquire Marshall Steel Stairs.

‘We have worked for many years with the company and see this as a complementary product that will sit well within our existing business.

“As we are acquiring the business out of administration, the acquisition is debt free and provides immediate upside earnings potential.”

Billington said it was committed to honouring all contracts transferred across as part of the agreement, at existing terms.

Originally founded as Peter Marshall (Fire Escapes) Ltd in 1970 the company became one of the leading fabricators of steel staircases in the UK.

An example of Marshall’s current work is the supply and construction of staircases at the Stratford Westfield Shopping Centre.