In a statement, Celsa Group said the divestment arises from its plan to reorganize its industrial and financial situation, focusing on its operations in Spain and on the reduction of financial leverage. Proceeds from the sale will be used to pay down debt, it said. 

“Sev.en GI is known for its long-term vision and expertise in building strong businesses that thrive in a constantly evolving market. The company is committed to creating value for both its stakeholders and the communities in which it operates,” it said. 

Celsa Steel UK operates a facility in Cardiff with an annual production capacity of 1.2 million metric tons of low-carbon construction steel. Celsa Nordic operates in Norway, Finland, Sweden, and Denmark. The company boasts a fully integrated production chain that encompasses scrap metal collection, processing, and manufacturing of finished steel products tailored for the construction sector.

All told, the integration of Celsa's steel plants will enhance Sev.en Global Investments’ diverse portfolio by adding a combined production capacity of 2 million metric tons of construction steels, including bars, sections, mesh and wires, according to the firm. 

"Both facilities are technologically advanced and well-established European leaders in green steel production. We are eager to collaborate closely with both management teams and other stakeholders to further develop these assets and unlock their long-term potential,” said Sev.en Global Investments chief executive officer Alan Svoboda.