A pair of acquisitions has helped Nottingham-headquartered Embrace Steel Group’s revenue to grow by 57 per cent in its latest annual accounts. The contractor, which designs and manufacturers steel frames, also reported a pre-tax profit of £2.3m for its financial year ended 31 December 2024, up from £1m a year earlier. Turnover rose from £26.2m to £41.4m, meaning Embrace’s margin broadened from 3.9 per cent to 5.6 per cent. It announced its improved financial performance after acquiring cladding firm Celtic Cladding Services and steelwork specialist Shufflebottom in April 2024 – adding to its existing brand, North Yorkshire-based Hambleton Steel. The company is 60 per cent owned by Catalyst Ventures, a Hong-Kong-based venture capital firm investing in early stage companies.