Industry News

Dormole has purchased 100% of the share capital of Dublin-based Tucks O'Brien Ltd (TOB) and Tucks Fasteners & Fixings Ltd (TFF), from the Gardiner Group, which aims to invest for growth in other of its businesses.

Privately owned Dormole owns Toolbank and also ForgeFix in the United Kingdom, amongst other tools and hardware distribution operations.  Toolbank chairman, Andrew Strong, said: “We are proud to have developed our business in Ireland with great support from our customers, the total commitment of our sales team in Ireland and those within our business that support them.  However, we believe that if we are to continue to grow our business, offer our Irish customers the full range of products and services we have available, we also need to have access to a locally based team and distribution facilities – as we do in all other regions.”

Tucks O’Brien has traded since 1877 and has a 35,000 square feet warehouse from which it supplies 16,000 product lines. Tucks Fasteners & Fixings carries a 6,000 article range of fasteners, fixings and power tools supplying the hardware, builders merchants and electrical wholesale trade throughout Ireland. The acquisition is being welcomed by Tucks' management and employees as Toolbank will bring investment and knowledge focused on developing and growing the businesses. 

In the short term, Dormole says there will be no change, having entered an agreement with Gardiner to oversee the development of TOB and TFF, with support and input from Toolbank. “TOB and TFF will continue to be Irish businesses with Irish leadership,” Dormole said. Bob Boxwell will continue as TOB managing director and Gary Hogan as managing director of TFF. Toolbank’s Irish business will continue to operate under regional director Kevin Carver.

Details of the transaction were not disclosed.