KILREA hardware wholesaler E.A. Martin has been bought by the Exeter headquartered engineering distributor Troy UK.
The family business has supplied tools and equipment to builders; agricultural, plumbing and electrical merchants; as well as hardware traders across the island of Ireland for three generations.
It’s the second Co Derry firm acquired by Troy in the past two years. Maghera-based MOL Tools Abrasives Ltd was bought by the group in 2021.
The latest acquisition by Troy comes less than two weeks after the industrial and engineering supplier network was backed by BGF to the tune of £15.5 million.
Set up in 2011 as the Business Growth Fund, BGF has invested around £70m in Northern Ireland companies since setting up its Belfast office in 2015.
Notably, it has backed coffee shop chain Bob & Berts and software developer AuditComply.
Just last month, BGF sold its stake in Belfast-based waste business RiverRidge to funds controlled by London-based Equitix Investment Management and Luxembourg's Cube Infrastructure Managers.
Originally set up in 1986, Troy is now one of the largest independent distribution networks in the UK's industrial and engineering sector, with a turnover of more than £300m.
Paul Kilbride, who acquired Troy in 2010, said: “E.A Martin & Son is a business that shares common core values with our group and offers a great fit in line with our growth strategy.”
Lyle Pyper, managing director of E.A. Martin & Son, said: "We chose Troy because it has a firm foundation, built on family values, committed, and focused on supporting each customer in the growth of their business.
"Being part of the Troy Group, E.A. Martin & Son Ltd can evolve to meet future demands through continuous improvement and development aligned to the brands represented and the customers we are so privileged to supply."