Fri, 22 Mar 2024 | BUSINESS SALE
UK industrial and engineering supplies network Troy has completed its latest acquisition with the takeover of Scottish firm SIIS Limited. The acquisition is Troy’s 20th deal in the past five years and second this month, following its recent takeover of another Scottish company, Scott Direct.
SIIS, which has sites in Kirkcaldy, Dunfermline, Dundee and Edinburgh, specialises in ironmongery and industrial supplies. The company serves a wide range of customers within Scotland and across the UK.
Troy is the UK’s largest independent industrial and engineering supplies network and a leading MRO (maintenance, repair, and overhaul) distributor, with more than 400 member distributors and suppliers. The company has grown significantly through acquisitions and its expansion plans received a boost last year, when it secured £15.5 million in financial backing from BGF.
Troy’s chief executive Paul Kilbride said: “SIIS is a Troy member that is built on family values with a focus on serving its local communities and is a natural fit with the Troy Group.”
“Through our vertical integration strategy, we provide businesses like SIIS with support and investment to grow and further unlock their potential, maintaining the knowledge, passion and levels of customer service that only an independent business can provide.”
Troy CFO Chris Taylor added: “SIIS represents our second investment in Scotland this year and further builds on our position as a key supplier to the industrial and trade markets. Under the leadership of Grant Fobister (General Manager), SIIS have built a well established business with a strong customer base and core product offering that will be a great addition to the Troy family of companies.”
SIIS’s Grant Fobister said that the deal represented the start of “an exciting new chapter” for the company and that joining the Troy group would enable it to build on its existing success, drive growth opportunities and further strengthen its position in its core markets.
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