The company was formed as the result of a number of mergers and acquisitions. Lloyds Ironstone Co had begun mining iron ore in Corby since 1880 when Samuel Lloyd purchased the mineral rights for the Manor of Corby. A rail link was established to transport the ore to the Albion Works in the West Midlands, where the company had a number of blast furnaces.

Control of the company passed to the owner’s son Samuel Janson Lloyd who merged the business with Alfred Hickman & Sons in 1919. The merged company was eventually absorbed into Stewarts & Lloyds group of companies in 1920.