This morning Billington chief executive Mark Smith revealed the firm had saved the jobs of at least 14 staff from failed bridge and architectural specialist SH Structures.

Among those moving over from SH Structures is managing director David Perry.

Smith said Billington would use the acquisition of the North Yorkshire firm’s specialist skills to take its existing specialist Tubecon business into the specialist bridge market for the first time.

He said: “There are some opportunities to explore through the SH Structures people, and after that we are going to see how far this goes.

“With our steel plate processing skills at Shafton Steel Services and specialist protective coatings capability following the acquisition of Orrmac Coatings out of administration two years ago, we have the capability to take on large and complex bridge structures.

“This expansion marks an exciting chapter in our journey and reflects our commitment to innovation, growth and excellence as part of our comprehensive offering to our clients.”

This morning Billington also announced a record financial performance last year with revenue up just over 50% to £133m and pre-tax profit more than doubled to £13.4m (2022: £5.8m).

Smith said the group performance was driven by increased market share and efficiency improvements enabling increased capacity and higher margins.

He said: “2023 was an exceptional year for Billington, with an excellent trading performance across the group, despite continuing macroeconomic challenges and against the backdrop of demand for structural steel in the UK remaining at a similar level to 2022. 

“While there inevitably remain further challenges ahead and market uncertainties are likely to remain for some time, the group has made significant investments for the future and currently has a record order book.”

Smith added: “The business is well set for the future with steel prices softening to nearer long-term average rates and more market stability being experienced.

“I am therefore confident that with our strong balance sheet and order book Billington will continue to perform well and in line with current market expectations.”