Troy, the largest independent network for industrial and engineering supplies in the UK, has been backed to “go from strength to strength” as its ambitious growth strategy gains further momentum following the acquisition of Scott Direct Ltd. The Exeter-based firm has completed a deal to acquire the Scottish family firm, Scott Direct Group, which is based in Grangemouth and is a supplier to the industrial and trade markets.
Founded in 1986, Troy is Britain’s leading independent MRO (maintenance, repair and overhaul) product distributor, serving the industrial, engineering and trade sectors nationwide via its acquired distributor network and buying group of 400-plus members.
The Exeter-based firm has completed a deal to acquire the Scottish family firm, Scott Direct Group, which is based in Grangemouth and is a supplier to the industrial and trade markets.
The deal marks Troy’s 19th acquisition, and its second since BGF’s multi-million pound investment in the business last year.
Commenting on the new deal, Troy Chief Executive Paul Kilbride said: “Scott Direct has been a Troy member for many years and there has been a close connection to the owners throughout that time.
“We know how much independent businesses are valued in their communities and by the businesses that trade with them. Our aim is to help those businesses to grow with investment, without losing the knowledge, passion and levels of customer service that only an independent business can provide.
“Thanks to investment from BGF, we are excited to be continuing on our growth trajectory and realising our long-term ambitions.”
Last year’s investment from BGF was led by James Skade and Hannah Waters, investors in BGF’s South West team.
As part of the deal, Troy appointed former Wickes CEO Simon King as Non-Executive Chair, following an introduction from BGF’s Talent Network – the largest pool of non-exec talent in the UK.
BGF investor James Skade added: “Troy is a dynamic company which is set to go from strength to strength as it continues to build a national business network with an excellent reputation and vast growth potential.
“Troy is a success story that Exeter and the South West of England can be proud of. Its achievements to-date in building up a community of small businesses point to a very bright future and everyone at BGF is looking forward to supporting the team on its growth trajectory.”
Financial advisors to the Scott Direct deal were Dains (Rob Wilson, Trystan Shaw) with legal advice from Gateley Legal (Mark Rutherford, Sophie Cahalin, Anna Mayfield, Alicia Bradburn), Shawbrook Bank (Andy Sutton, Steve Armstrong), Freeths (James Dyson), Gunnercooke (Rob Fawkes), Gillespie Mcandrew (Kenny Irons, Arlene Taylor) and BTO (Emma Barclay).
