Burges Salmon advises BGF on £15.5m investment in Troy UK

Tim Roberts

The firm’s Corporate team has advised BGF on its investment to support the acquisitive growth strategy of Troy UK

THE Corporate team from independent UK law firm Burges Salmon has advised BGF, one of the largest and most experienced investors in the UK and Ireland, on its £15.5 million investment in Troy UK, the largest independent network for industrial and engineering supplies in the UK.

A family-run business founded in 1986 and based in Exeter, Troy is Britain’s leading independent MRO (maintenance, repair and overhaul) product distributor, serving the industrial, engineering and trade sectors nationwide via its distribution centres and buying group of 400-plus members.

Troy and its members service a range of sectors including general manufacturing, rail, renewable energy, automotive, medical, aerospace and trade, with a broad product offering including power tools, cutting tools, fixings, fastenings and PPE.

Under the leadership of Paul Kilbride, who acquired Troy in 2010, the business has experienced rapid growth and is now the largest independent distribution network in the industrial and engineering sector in the UK with a turnover of over £300 million.

BGF’s financial support will further accelerate Troy’s growth strategy and, in addition to the investments the group has made within the membership over the last five years, there is also a significant pipeline of opportunities identified post-investment.

The Burges Salmon team that advised BGF on the investment comprised Corporate team members, director Tim Roberts and senior associate Martin Davidson along with partner Rachael Ruane and director Amy McVey from the firm’s Banking and Finance team.

BGF investor James Skade says: “We’ve worked with Tim and the Burges Salmon team on a range of deals over the years and during this particular transaction their advice and levels of client service were fantastic.  We really appreciate the firm’s support in helping us successfully complete this investment in a thriving national business network with an excellent reputation and a huge potential for growth.”

Tim Roberts adds: “As always, it has been a pleasure to work side-by-side with our longstanding client BGF on another significant investment.  Troy has a clear vision for structured growth and this investment from BGF will enable the business to capitalise on a range of exciting market opportunities and position it for further growth.”

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