Abbey Industrial Solutions’ acquisition of Preston-based ATN creates £5m turnover business
08 December 2016
Abbey Industrial Solutions, the Wakefield-headquartered independent provider of industrial power tools and small plant equipment, has acquired industrial tool company, ATN.
NatWest provided funding to support the acquisition.
The move forms part of Abbey’s strategy to expand in the North West, and takes the company’s turnover to in excess of £5m.
As a result of the acquisition, the business now employs 40 staff and is now undergoing a recruitment drive to grow the business even further.
Both ATN, which is based in Preston, and Abbey will cross sell products and services to the other’s customer bases, and from October 2016, ATN will rebrand as Abbey.
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. We are looking forward to combining the best of both companies to offer customers more choice and an all round better experience.“
Stephen Robinson of ATN commented:
“This acquisition offers huge potential to grow and develop as part of a much larger business. We’re looking forward to working with Abbey and continuing to offer businesses in the North West best-in-class industrial power tool solutions.“
Geoff Schofield, senior relationship manager at NatWest, said: “It’s an exciting time for Abbey and ATN as they look to expand their business offerings in new markets.
“The management team at Abbey has a clear vision for where they want to take the business and we wish them every success for the future.“
Original Article Nick Hill, Bdaily