Celsa completes sale of subsidiaries to Czech Sev.en Global Investments

The proceeds from the sale will be used to reduce Celsa Group's debt

Spanish steel company Celsa Group has announced that it has closed a deal to sell 100% of its subsidiaries in the UK and Northern Europe to Czech investment group Sev.en Global Investments.

The sale of the assets was announced in November 2024, and the deal was ratified on April 11 this year. The proceeds will be fully used to reduce the group’s debt.

As noted, with this major sale, in addition to the recent share capital increase and the launch of an ambvitious efficiency plan, Celsa Group continues to implement its industrial plan and financial reorganization.

Sev.en, in turn, reported that the acquisition of Celsa Nordic and Celsa Steel UK marks the company’s entry into a new industry and a new region, expanding its global portfolio and strengthening its commitment to environmental industrial practices.

Celsa Nordic will be renamed 7 Steel Nordic and Celsa Steel UK will become 7 Steel UK. Both companies will now operate under the unified 7 Steel brand.

The combined production capacity of the acquired steel companies is 2 million tons of structural steel per year, including bars, profiles, mesh and wire. In addition, their steel products are used in shipbuilding, railways and wind energy production.

“I am very pleased with the successful completion of the acquisition of several innovative and specialized 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,” said Alan Svoboda, CEO of Sev.en Global Investments.

In April of this year, CriteriaCaixa, an investment holding company, reached a preliminary agreement to acquire a 20% stake in Celsa Group through a capital increase. Through this alliance, the parties will consolidate Celsa’s financial restructuring strategy and advance its industrial plan, which is already underway.