Tools and equipment supplier Troy has completed its first acquisition after securing a major investment.
The Devon firm, which describes itself as the UK’s largest independent buying group in the industrial and engineering sectors, has acquired E.A. Martin and Son, a family business which has supplied traders in Northern Ireland and the Republic of Ireland for three generations.
The deal, completed for an undisclosed sum, comes after Exeter-based Troy received £15.5m from BGF, as it looks to build on the group’s rapid growth.
Originally founded in 1986, Troy was acquired by Paul Kilbride in 2010, and now has a turnover of more than £300m. It has membership of more than 400 merchants and a similarly sized network of suppliers, including brands Makita, Bosch, Stanley and DeWalt. It estimates its group-buying powers to be around £1.1bn.
Mr Kilbride said: “E.A Martin and Son is a business that shares common core values with our group and offers a great fit in line with our growth strategy. As part of the Troy Group it further supports our investment in the Northern Ireland based-MOL Tools and Abrasives Ltd in 2021. The pairing significantly increases the group’s wholesale offering, allowing us to strengthen our position in the marketplace and further support our membership.”
Lyle Pyper, managing director of E.A. Martin and Son, added: “We chose Troy because it has a firm foundation, built on family values, committed, and focused on supporting each customer in the growth of their business. Being part of the Troy Group, E.A. Martin and Son Ltd can evolve to meet future demands through continuous improvement and development aligned to the brands represented and the customers we are so privileged to supply”.
The Troy Group has now invested in 17 businesses throughout the UK over the last five years. Last year it acquired online procurement platform Applegate, as one of four purchases the expanding firm made during the period.
Troy was th e main shirt sponsor of English Premiership rugby team Exeter Chiefs during the 2022/23 season.
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