Coventry acquisition good news for Brammer

BRAMMER has said that its sales and profits since the start of the year are “well ahead” of 2011, driven by last September’s £27.6m acquisition of Coventry tool distributor Buck & Hickman.

The firm said that revenues for the first four months of the year increased by 29.4%, but even when the impact of the acquisition is stripped out the business grew organically by 9.9% and margins increased by 1.2%.

The Wythenshawe-based distributor added that its focus on larger customers was continuing to pay dividends, and that key accounts now represent 35.8% of total sales. Sales also increased across most of its major European markets.

The integration of Buck & Hickman “is proceeding as planned”, contributing to a 25.7% growth in its tools and general maintenance arm.

“We expect to achieve continued sales and profit growth as a result of the Buck & Hickman acquisition and market share gains during the rest of the year,” the company said. 

It added that it expected “to continue to enjoy growth levels significantly ahead of the market.”