The deal will save 60 jobs at the Ince company, which was previously owned by Eiffel UK, a subsidiary of the French giant Eiffage Construction Métallique, part of the Eiffage Group.

Insolvency specialists from Smith & Williamson were called in to handle the administration of Eiffel Steelworks a month ago after it ran up losses of over £1.3m.

Matthew Dunham, partner at Smith & Williamson  said: “The decision to keep trading and so maintain the order book has made the business more attractive to potential buyers.  We received interest from a number of parties and are delighted to have achieved this sale.”

His colleague Adam Stephens added: “This is excellent news for the employees who have remained supportive and proved themselves to be loyal to the company during the uncertainties of recent weeks.”

Eiffel Steelworks’ core business was as a manufacturing service for major players like Severfield and William Hare, but more recently it branched out in its own right to win orders directly.

It secured several landmark projects including jobs at Canary Wharf, the Olympic Stadium and roof trusses for terminal two at Heathrow.

William Hare will now integrate the firm into its operations across Lancashire and Yorkshire.