In about 1835 Moses Teague and his partners were looking for an investor to help with their business in Cinderford. Teague invited William Crawshay and his son Henry to the Forest. Successful negotiations result in the formation of the Cinderford Iron Company, which proved a great success.

The company furnaces were supplied with iron ore from the Buckshaft Mine and coal from the Lightmoor Colliery. Henry Crawshaw built his own railways and the business went from strength to strength, employing about 2,000 people. Between 1860 and 1870 it is estimate 398,725 tons of iron ore were raised. He was said to be a good employer and, when Forest miners went on strike in 1874, he wrote to the newspapers urging other employers to allow their workmen “bright hearths and joyous hearts” at Christmas!

The Crawshay's also owned the Persevereance Iron Mine, Shakemantle and the Northern United Mine. ed aid to schools at Blakeney and Newnham.

Henry was living at Oaklands Park when he died in November 1879He died of primary diabetes, congestion of the lungs and heart disease. He had 10 children in his lifetime and several grandchildren. He was described in his obituary as the "Iron King of the Forest of Dean".