GFG Group

The story of GFG Alliance begins not in a garage, but with an undergraduate at the University of Cambridge. In 1992, Sanjeev Gupta founded Liberty House Group as a commodities trading business. This was the first step in a long journey from trading to building a global industrial conglomerate. Owned by Sanjeev Gupta and his family, GFG Alliance is a collection of businesses in the steel, aluminum, and renewable energy sectors. The major shift from trading to industry happened in 2013, when Gupta purchased his first steel mill in the UK. This marked the beginning of an acquisition-led strategy, focused on reviving distressed industrial assets and pioneering a concept called GREENSTEEL, which integrates metal recycling with renewable energy. The company expanded rapidly, acquiring assets across Europe, Australia, and the USA. By 2019, the various businesses were consolidated under the GFG Alliance umbrella, which includes brands like LIBERTY Steel Group and ALVANCE Aluminium Group. A significant event in the company's journey occurred in March 2021 with the collapse of its main lender, Greensill Capital. This created a major financing challenge for GFG Alliance, which reportedly owed Greensill's administrators a substantial amount as of April 2024. The event put the company's ambitious growth model and its financial structure under intense scrutiny, marking a pivotal and challenging chapter in its story.