A Gloucestershire-based tool supplier has acquired a local competitor. Stroud-based C R Hollands Industrial Supplies has completed a deal with Gloucester’s Concept Tooling UK for an undisclosed sum.
C R Hollands has been providing precision engineer clients across the UK with equipment since it was established in 1975. It has now added family-run Concept Tooling to the group. Formed in 2003, the business specialises in cutting tools such as specialist carbide cutters, drills, milling cutters, turning tools, brazed tooling and special inserts.
C R Hollands said the deal would enable it to have “a much broader range” of products and suppliers, as well as a larger customer base.
As part of the agreement, Jerry Ballinger, founder of Concept Tooling, and Harry Ballinger will both join C R Hollands. Paul Hollands, managing director of C R Hollands Industrial Supplies said the firm had achieved “an important strategic goal”.
He added: “We very much look forward to working with Jerry and Harry Ballinger, as we continue to grow market share and deliver fantastic customer service to all of our stakeholders.”
Accountancy firm Westcotts’ Exeter-based corporate finance team acted as lead adviser to C R Hollands on the deal.
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