Sheffield Industrial Saws has acquired local rival Spear & Jackson International out of administration for an undisclosed sum.

Sheffield Industrial Saws has acquired local rival Spear & Jackson International out of administration for an undisclosed sum.

Spear & Jackson International employs 65 staff and was formed in a management buy-out from hand and garden tool manufacturer Spear & Jackson Plc.  The company came into financial difficulties in April and currently has debts of some £936,000.

Sheffield Industrial Saws manufactures segmental, tungsten carbide tipped and solid high-speed steel circular blades, in addition to distributing bandsaw blades.

Ted Wetton, from Barnsley accountancy firm Gibson Booth, has been appointed liquidator by a creditors’ meeting, held following the sale of Spear & Jackson International’s operations to Sheffield Industrial Saws.