Wed, 20 Apr 2022 | BUSINESS SALE
Business supplies company Corporate Trade Supplies UK (CTS) has acquired personal protective equipment (PPE) firm Safeguard Supplies in a deal worth £3 million. Following the deal, CTS said it expects to make further acquisitions this year as it seeks to expand production and solidify its supply chains.
The acquisition enables CTS, which is based in Northallerton, North Yorkshire, to deal directly with factories in the Far East, while rapidly expanding its business. According to CTS Managing Director Howard Gill, the acquisition is a “game-changing deal”, seeing the firm expand into healthcare and making it “the largest importer of health and safety products from China in Yorkshire.”
Gill continued: “This will mean we will be playing a crucial role in helping the country to recover from the global pandemic by providing healthcare equipment across the UK. We will now be servicing the retail, food manufacturing, healthcare and hospitality sectors, which is an exciting new dimension for our business and our brand.”
Gill added that Safeguard Supplies will operate as part of CTS UK post-acquisition and that the company expects it to deliver £10 million in turnover within three years.
With many UK companies struggling amid mounting supply chain delays and rising costs, a crucial component of Safeguard Supplies’ growth plans, according to founder and Chairman AJ Swinbank, is gaining greater control of its supply chains.
Following the acquisition of Safeguard Supplies, Swinbank commented: “This is unlikely to be our last acquisition this year as we look to expand our production arm of the business and tighten control of our supply chains.”
CTS has a diverse business and specialises in promotional products, cleaning and hygiene products, workwear and personalised work uniforms.
The company has seen rapid growth over recent years, moving into its new premises in Northallerton and attracting high-profile clients including Asda, Eddie Stobart, HC One, Wolseley, Morrisons and Frasers Group. Looking forward, Swinbank said the company is hoping to recruit more staff over the next few years and is aiming to reach £50 million in turnover by 2027.
Howard Gill added: “Our sectors include PPE, uniform, consumables, warehousing and fulfilment. We are looking to grow through e-commerce channels, offering warehousing and fulfilment. With online retail booming, we are now looking to maximise sales opportunities across all sectors of our business.”
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