Major provider of industrial power tools Abbey Industrial Solutions is set to expand after the acquisition of Preston-based industrial tool company ATN
Tools and small plant equipment firm Abbey Industrial Solutions will expand its operations following the takeover of ATN.
The acquisition will see Abbey, one of the UK’s largest independent providers of industrial power tools and small plant equipment, grow its presence in the North West.
As a result of the takeover, the business will see its turnover grow to an excess of £5m, with plans to launch a recruitment drive to bring more employees on board.
The acquisition was aided by funding from NatWest and will see ATN rebranded under the Abbey umbrella.
Significant growth potential
Speaking to the Lancashire Evening Post, Stephen Robinson of ATN said: “This acquisition offers huge potential to grow and develop as part of a much larger business.”
Chris Stead, Managing Director of Abbey, added: “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.”