Trifast Group acquired Precision Technology Supplies Ltd. (PTS), a UK-based supplier of stainless steel fastenings, for £8.5 million. The deal includes a contingent cash consideration of up to £2.5 million additionally. 

“We believe that this acquisition will be earnings enhancing in the financial year-ending 31 March 2019,” stated Trifast CEO Mark Belton. “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.”

Belton said PTS will run as a stand-alone business within Trifast. 

Based in East Grinstead, UK, PTS was founded in 1988 and employs 27 to distribute stainless steel fasteners to the electronics, medical instruments, petrochemical, defense and robotics sectors in 80 countries. Web: us.pts-uk.com

For the year ended March 2017, PTS reported £5.11 million in revenue and £720,000 in profit before tax.

The management team and previous owners, Jason Collyer, Andy Edwards, and Andy Knight, will continue to run the business.

UK-based Trifast supplies industrial fastenings to the automotive, domestic appliances, electronics and distributors markets. Trifast employs 1,200 across 30 locations in the UK, Europe, Asia and the U.S. Web: Trifast.com