McNerney, who joined from Laing O’Rourke last November, has completed a review of Severfield’s markets, operations and organisational structure following a turbulent year for the group.

As part of the shake-up, he has appointed former Laing O’Rourke colleague Vasily Lovkovskiy as head of transformation.

Lovkovskiy worked alongside McNerney during the last three years at Laing O’Rourke.

McNerney has also brought back Jarrod Hulme as operations director, based at the former Watson steelworks facility in Lostock, Bolton, where he originally served his apprenticeship.

Hulme returns to Severfield six years after leaving as a senior project manager. He joins after working for bridge upgrade specialist Taziker, where he progressed to managing director of Taziker Structural Solutions.

The appointments come as Severfield looks to improve operational performance and rebuild momentum following a difficult period that culminated in a major hit from bridge weld defect costs in its latest financial year.

This morning Severfield signed a new three-year banking facility agreement which gives its access to up to £100m. The refinancing replaces Severfield’s existing facilities and further strengthens its liquidity position and financial flexibility.

Andrew Page, Chief Financial Officer, who only joined in February after his interim role at ISG, said: “We are pleased to have successfully completed this refinancing with the continued support of our banking partners.

“The new facilities enhance our financial flexibility, extend our debt maturity profile and provide improved commercial terms reflecting the Group’s strengthened financial position, as well as a strong platform to support the Group’s future growth opportunities.

“This refinancing reflects the strength of Severfield’s market position, long-term customer relationships and resilient business model.”