Troy is delighted to announce the acquisition of SIIS Limited to support its UK growth strategy and its second acquisition in Scotland in 2024.
SIIS specialise in ironmongery and industrial supplies and serve a wide range of customers across Scotland and the UK from their four sites located in Kirkcaldy, Dundee, Dunfermline and Edinburgh.
Troy, the largest independent network for industrial and engineering supplies in the UK, is headed up by Paul Kilbride, CEO. Paul commented;
“SIIS is a Troy member that is built on family values with a focus on serving its local communities and is a natural fit with the Troy Group. Through our vertical integration strategy, we provide businesses like SIIS with support and investment to grow and further unlock their potential, maintaining the knowledge, passion and levels of customer service that only an independent business can provide. We look forward to starting this journey with Grant and the team.”
Chris Taylor, CFO of Troy said,
“SIIS represents our second investment in Scotland this year and further builds on our position as a key supplier to the industrial and trade markets. Under the leadership of Grant Fobister (General Manager), SIIS have built a well established business with a strong customer base and core product offering that will be a great addition to the Troy family of companies.”
This marks the 20th investment for Troy throughout the UK over the last 5 years, with the group serving a wide and diverse customer base across many sectors, providing broad-line industrial consumables and PPE, Precision Cutting Tools and state of the art VMI and supply chain management solutions.
Grant Fobister, General Manager of SIIS Limited said,
“This deal marks the start of an exciting new chapter for SIIS and the team here – as part of the Troy group we look forward to building on the success we’ve achieved to date, continuing to service our valued local customer base, driving growth opportunities and further strengthening our position across our core markets .” Financial advisors to this deal were Dains (Rob Wilson, Trystan Shaw) with legal advice from Gateley Legal (Mark Rutherford, Sophie Cahalin, Anna Mayfield, Alicia Bradburn), Shawbrook Bank (Andy Sutton, Steve Armstrong), Freeths (James Dyson), Gunnercooke (Rob Fawkes), Gillespie Macandrew (Kenneth Irons, Arlene Taylor) and Burges Salmon (Joanna Monaghan, Victoria MacAulay).
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