£5m tools company expands with North West acquisition

INDUSTRIAL power tools company Abbey Industrial Solutions has acquired North West-based company ATN.

Wakefield-based Abbey is looking to expand geographically and industrial tool company ATN was a perfect fit.

The acquisition takes their turnover to in excess of £5m. The business now employs 40 staff and is undertaking a recruitment drive to grow the business further.

From October 2016, Preston-based ATN will rebrand as Abbey.

Chris Stead, managing director of Abbey, said: “I’m over the moon, with plenty of synergy between the two businesses they were a natural fit for us. What attracted us to ATN was their extremely innovative approach and strong product range.

“They have built an excellent reputation in the market and this acquisition provides diversification for our business and helps us to continue to build on our knowledge base. We are looking forward to combining the best of both companies to offer customers more choice and an all round better experience.”

Stephen Robinson of ATN, which was founded in 1982, commented: “This acquisition offers huge potential to grow and develop as part of a much larger business. We’re looking forward to working with Abbey and continuing to offer businesses in the North West best-in-class industrial power tool solutions.”

NatWest provided funding to support the acquisition. Geoff Schofield, senior relationship manager at NatWest, said: “It’s an exciting time for Abbey and ATN as they look to expand their business offerings in new markets. The management team at Abbey has a clear vision for where they want to take the business and we wish them every success for the future.”