Thu, 16 Jan 2025 | BUSINESS SALE
Street furniture specialist Broxap has bought bike storage manufacturer Turvec.
Staffordshire-based Broxap makes a range of furniture from bollards to litter bins, outdoor signage, playground equipment and cycle shelters. Its clients include Huddersfield Town football club, the NHS, local authorities, Starbucks and Sainsbury’s.
London-based Turvec also makes bike shelters, alongside two-tier bike storage, bike racks and stands, bike repair stations and lockers.
Turvec has partnered with construction companies and supplied cycle equipment to local authorities, educational institutions and clients like Google, the Ministry of Defence, Lloyds Banking Group and music venue Roundhouse London.
Broxap, which has acquired Turvec for an undisclosed sum, said it plans to build on the expertise and team at Turvec to strengthen its position in the cycle storage market.
“We have known and traded with Turvec for some time and have always been impressed by their success and how they presented themselves to the street furniture and cycle security marketplace. This strategic acquisition by Broxap strengthens our position in a highly competitive sector,” Broxap said. “Turvec will continue in its current mode of operation, successfully capturing cycle storage and external works contracts using their prompt customer service and expertise. By using Broxap's manufacturing resources and supply chain, we plan to improve customer experiences further through reduced lead times, combining our expertise and resources to expand on what we can achieve.”
John Boyle, Managing Director at Broxap, added, "We already offer a full geographical service throughout the UK, from our Staffordshire manufacturing base. Turvec's market position and London location, together with their talented team, perfectly complements Broxap's offering and its comprehensive product portfolio.”
George Hosegood, co-founder at Turvec, said: "Turvec has seen real success since the business was launched in 2015. We have grown a strong position as a leading supplier of quality cycle storage from our London offices. As part of Broxap, Turvec now becomes a UK manufacturer, strengthening supply chain and competitiveness. This will allow the Turvec business unit to grow substantially over the coming years.”
Find out more about the corporate compounding model
A UK based contract electronics manufacturer presently seeking a suitable acquirer for their business.
This is a rare opportunity to acquire an established and profitable quality joinery manufacturing business with spacious freehold premises located in the beautiful Speyside area of the Highlands.
Established in 2004, the business surpassed £1m in annual revenues for the first time in 10 years. This followed a decision made a decade ago to focus the company on more profitable and specialised work. The approach has been very successful and the...
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