Tools company aims to expand after takeover
Abbey Industrial Solutions, one of the UK's largest independent providers of industrial power tools and small plant equipment, has announced the acquisition of Preston-based industrial tool company ATN.
The move forms part of Abbey’s strategy to significantly grow its presence in the North West, and will see businesses in the region benefit from an expanded tooling range and service offering.
This acquisition, aided by funding from NatWest, takes its turnover to in excess of £5M with the business employing 40 staff.
It is now undergoing a recruitment drive to grow the business.
Both ATN and Abbey will complement one another as they cross sell products and services to the other’s customer bases. ATN will also rebrand as Abbey.
Stephen Robinson of ATN commented: “This acquisition offers huge potential to grow and develop as part of a much larger business.”
Chris Stead, Managing Director of Abbey, said: “I’m over the moon, with plenty of synergy between the two businesses they were a natural fit for us.
“What attracted us to ATN was their extremely innovative approach and strong product range.
“They have built an excellent reputation in the market and this acquisition provides diversification for our business and helps us to continue to build on our knowledge base.”