Tools and equipment supplier Troy has secured £15.5m to accelerate its acquisitive growth strategy.
The Devon firm describes itself as the UK’s largest independent buying group in the industrial and engineering sectors, with a 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.
The Exeter-based group has now received a multi-million pound boost from investment firm BGF, as it looks to build on its rapid growth. Originally founded in 1986, Troy was acquired by Paul Kilbride in 2010, and now has a turnover of more than £300m.
