Power tool specialist expands national footprint with acquisition
SHEFFIELD’S Duro UK, a leading supplier of synthetic diamond tools and power tool accessories, has acquired a company based in Wales as it looks to boost its market position in the South West and London.
Duro UK has completed the acquisition of Pegasus UK and Pegasus Industrial Products, which both trade as Pegasus Diamond Blades, in an undisclosed deal.
Pegasus Diamond Blades is located in Pontypridd and is a national supplier to the tool and plant hire, construction resale, power tool resale and construction sectors.
Duro UK has its UK head office in Dinnington, Sheffield and offices and warehousing in Antwerp Belgium under its sister company Duro Europe SA. Its focus is on cutting, grinding, drilling and breaking tools for construction materials.
Paul Morewood, managing director at Duro UK, said: “The acquisition will strengthen Duro UK Ltd’s market position in the South West of the country and London. We are an innovative thinking power tool accessory specialist and the completion of this deal helps us to expand our customer base across the UK. We are looking forward to working with the team at Pegasus Diamond Blades.”
Funding to support the transaction has been structured by the Royal Bank of Scotland’s corporate transactions team
Stuart Watson, director corporate transactions team at Royal Bank of Scotland, said: “The acquisition of Pegasus strengthens the geographical footprint for Duro UK Ltd and complements their existing business extremely well. It will open up a new customer base and we are very happy to support this acquisition which will increase the future potential of both businesses.”
Advisers on the deal include John Baddeley, director, Wake Smith Solicitors, who acted on behalf of Duro UK and the Royal Bank of Scotland. The Royal Bank of Scotland was represented by Stuart Watson, director, corporate transactions team and Alan North, relationship director.
