An Exeter-based industrial and engineering supplies firm has completed its second acquisition this month as it continues to push on with its growth strategy.<\/p>\n
Troy, an independent network for industrial and engineering supplies in the UK, received a \u00a315.5m investment from BGF last June to back its acquisition plans.<\/p>\n
It has now bought Scottish company SIIS, just weeks after it agreed a deal for Scott Direct, which is also based in Scotland. The purchase of SIIS is Troy’s 20th investment in the last five years<\/p>\n
SIIS specialises in ironmongery and industrial supplies and has sites in Kirkcaldy, Dundee, Dunfermline and Edinburgh.<\/p>\n
Troy’s chief executive Paul Kilbride said: \u201cSIIS 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.<\/p>\n
“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.\u201d<\/p>\n
Grant Fobister, general manager of SIIS, added: \u201cThis deal marks the start of an exciting new chapter for SIIS and the team here \u2013 as part of the Troy group we look forward to building on the success we\u2019ve achieved to date, continuing to service our valued local customer base, driving growth opportunities and further strengthening our position across our core markets.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Industrial supplies business was backed by BGF last summer<\/p>\n","protected":false},"author":18,"featured_media":4720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[81],"class_list":["post-12336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-devon","tag-top-story"],"yoast_head":"\n