Addleshaw Goddard has advised Sheffield Forgemasters on its sale to the Ministry of Defence.

The move sees one of Britain's oldest steelmakers taken into public ownership, reflecting its importance as a national asset. The MoD has announced it will invest a further £400m over the next ten years, and plans to eventually return the business to the private sector.  

The AG team was led by Richard Hunt with Victoria Kierans, Tom Hopwood and Becky Sabin (Corporate), along with Al Mangan (Competition), Andy Fordham, James Washington, Danielle Greenley (Finance) and James Reynolds (Construction and Engineering), and other specialist teams over the last 15 months.

South-Yorkshire based Sheffield Forgemasters, which can trace its roots back to 1750, plays a critical role in the building of the UK's nuclear submarine fleet. Its effective nationalisation reflects both its importance to the nation and the government's approach to critical national assets under the new National Security and Investment Act. 

Richard Hunt said: "Sheffield Forgemasters has played a vital role in UK Defence and continued to deliver for Britain for the last 270 years. It is great news that they will become a valued national asset, safeguarding jobs and maintaining a position as a leading Yorkshire-based manufacturer, and we are delighted to have been a part of helping make this happen.