Trifast Plc has announced that it has extended its distribution product range through the acquisition of Precision Technology Supplies Limited (PTS), a key supplier and distributor of stainless steel fastenings in the UK, holding one of the widest product ranges of any supplier in Europe.
Trifast said the acquisition offers the opportunity to build the group's presence within the stainless steel fastener market, enhances its core OEM customer offering and supports ongoing distributor sales growth. Trifast also noted that PTS provided a proven e-commerce platform.
"PTS will run as a stand-alone business within the TR family of businesses - however it will, like other brands within the TR portfolio, significantly benefit from the Group's marketing and global sales services which will open-up international markets and access to TR's wider customer network. We anticipate that within the enlarged group, PTS will be very well placed to drive further sales growth over the coming years,” said Mark Belton, CEO of Trifast.
"Having got to know PTS well, we can see that its additional skills, customers and end markets will further strengthen our profile within the stainless steel market,” added Mark.
Based in East Grinstead, UK, PTS was founded in 1988 and employs 27 staff. It is a highly regarded distributor of stainless steel industrial fastenings and precision turned parts, primarily to the electronics, medical instruments, petrochemical, defence and robotics sectors. Its emphasis is on delivering high quality products and services, currently selling into around 80 countries directly through its well-established distributor network, as well as digitally through its newly developed, fully integrated commercial website which lists over 43,000 products for sale. This approach has enabled PTS to continue to deliver strong sales growth over the last three years. For year ending March 2017, PTS reported GB£5.11 million sales and pre-tax profit of GB£0.72 million. Gross assets at that date were GB£3.62 million.
Trifast confirmed that previous owners, Jason Collyer, Andy Edwards and Andy Knight, will continue to run the business on a day to day business, leading the current PTS team.
"Having known the team at TR for many years, we see joining them as a great opportunity for everyone at PTS. My team and I are looking forward to working as part of this industry respected business - we recognise that the strategy and the resources now open to us make it possible to achieve significant growth beyond what was achievable as an independent business,” said Jason Collyer, managing director at PTS.
Having held senior management roles in leading automotive and fastener businesses, Phil joined Fastener + Fixing Magazine as editor in 2002. Convinced there is no substitute for ‘being there’, over 17 years of visits and interviews around the world means he has accumulated an extraordinary knowledge and perspective of the global fastener industry, reflected in his incisive and thought provoking reporting.
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