º£½ÇÊÓƵ

A Black Country industrial product supplier has been sold to a North East firm. Dudley-based KJ Fasteners has been bought by DP Fasteners in Gateshead in an undisclosed deal.

Founded in 2006 by Kevin Jew and Ken Mole, KJ Fasteners specialises in the supply of quality-assured fasteners, fixings and associated products for structures.

It serves clients in fields such as power transmission, structural engineering, mining and water supply.

DP Fasteners supplies products to manufacturers working in sectors such as automotive, aerospace, oil and gas and consumer.

The company is part of equity investment group The Industrial Mandate whose director Matt Kenny said: "We are delighted to welcome KJ Fasteners into our group.

"With a strong heritage in specialist fastener sectors, in particular power transmission and heavy infrastructure, we are confident the business will thrive alongside our subsidiaries DP Fasteners and North East Fasteners."

Mr Jew and Mr Mole instructed business advisory firm KBS Corporate on the sale of KJ Fasteners as part of their wider retirement plans.

Associate director Matthew Sibley, who advised on the sale, said: "DP Fasteners has a strong foothold in the North East and felt it was the right time to extend its geographical reach.

"KJ Fasteners is a company of similar size and structure that will complement DP's core offering and allow the business to really accelerate its growth trajectory.

"Kevin and Kenneth were exceptional to work with throughout the sale and remained committed to securing the right deal for both companies. I wish both businesses the best of luck as they grow together over the coming years."

Keystone Law also acted on the deal.