The formerly family owned firm specialises in the design, fabrication painting and installation of bridges on major infrastructure projects.

The current board of directors will remain in place and will have full control of strategy and business decisions.

The company said: “By becoming an employee-owned trust, we’re securing the future of the company, our culture, and importantly, the future of an amazing group of people.”

“We would like to sincerely thank all our colleagues, clients, and supply chain members for their contribution towards making Nusteel the success story it has become. We believe we are well-placed and equipped to look to the future with great confidence.”

Latest results for the firm for the year to October 31 2023 show Nusteel had a turnover of £12.6m generating a pre-tax profit of £246,000.