International industrial fastenings group, Trifast (LSE Premium listing: TRI) is pleased to announce that it has extended its distribution product range through the acquisition of Precision Technology Supplies Limited (“PTS” or the “Acquisition”), a key supplier and distributor of stainless steel fastenings in the UK, holding one of the widest product ranges of any supplier in Europe.
Highlights of the Acquisition
•Opportunity to build the Group’s presence within the stainless steel fastener market
•Enhances core OEM customer offering and supports ongoing distributor sales growth
•Extends Trifast’s customer base and sectors served
•Provides proven e-commerce platform
•Synergy benefits expected in the form of more efficient sourcing
Mark Belton, CEO Trifast said: “We believe that this acquisition will be earnings enhancing in the financial year-ending 31 March 2019. It will enable us to provide an enhanced offering across our customer network and also strengthen our position when it comes to purchasing synergies and logistics.”