Mon, 12 Jun 2023 | BUSINESS NEWS
Exeter-based Troy, an independent UK network for industrial and engineering supplies, has secured £15.5 million from BGF to support its M&A led growth strategy. Troy was founded in 1986 and operates as an independent maintenance, repair and overhaul (MRO) product distributor.
The firm serves a range of sectors, including manufacturing, renewables, rail, automotive, medical, trade and aerospace, operating across the UK via a network of distribution centres and a 400-plus strong buying group.
The company was acquired by current owner Paul Kilbride in 2010 and, since then, has seen rapid growth, establishing itself as one of the UK’s largest independent distribution networks serving the engineering and industrial sector, with turnover of more than £300 million.
The investment from BGF will further accelerate Troy’s growth strategy, with the company having identified a “significant pipeline of opportunities”. The investment deal was led by James Skade and Hannah Waters, part of BGF’s South West team based in Bristol.
Troy Chief Executive Paul Kilbride said that the firm had been seeking a minority investment partner that recognised its capabilities in order to deliver its structured growth strategy. Kilbride added: “We are confident that with BGF as key allies we will maintain our growth trajectory and realise the company’s ambition.”
BGF investor James Skade added that the transaction was an opportunity for the fund “to invest in a thriving national business network with an excellent reputation and a huge potential for growth” and that BGF would support Troy “to deliver on its ambitious growth plans.”
Former Wickes CEO Simon King has also joined Troy as the company’s non-executive chair following an introduction through BGF’s Talent Network. King said he would be “working alongside the wider team and BGF to capitalise on significant market opportunities and to position the business for further growth.”
Read more about growing your business through acquisitions with this in-depth case study.
First established in 1981 and has fantastic relationships in place with the suppliers of their quality office products. The business has grown significantly since its creation through organic sales and an increased product range. Over the years, this...
This excellent business has been established since 1976 and is a leading industry supplier of industrial cleaning materials, paper products and vacuum cleaners. Operating from a custom built trade counter and showrooms this business has a broad and e...
Established, Award-Winning Food Wholesale Business onto the market. The business has a vast range of clients across the North of England, providing high-quality, locally sourced produce tailor made to customers individual requirements, ensuring the b...
06
|
May
|
Tekmar Group disposes of subsea company for £1.9m | DIVISION SALE
Tekmar Group, a Darlington-based supplier of technology and ...
06
|
May
|
Frasers acquires MATCHES IP out of administration | BUSINESS SALE
Frasers Group has acquired the intellectual property of e-co...
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
12
|
Nov
|
Fremman acquires majority stake in Kids Planet as BGF exits | BUSINESS SALE
European investment firm Fremman has acquired a majority sta...
17
|
Jun
|
Four Communications acquires creative agency in ninth BGF-backed takeover | BUSINESS SALE
Marketing services firm Four Communications Group has acquir...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.