Tools and equipment supplier Troy has secured 拢15.5m to accelerate its acquisitive growth strategy.

The Devon firm describes itself as the 海角视频鈥檚 largest independent buying group in the industrial and engineering sectors, with a membership of more than 400 merchants and a similarly sized network of suppliers, including brands Makita, Bosch, Stanley and DeWalt. It estimates its group-buying powers to be around 拢1.1bn.

The Exeter-based group has now received a multi-million pound boost from investment firm BGF, as it looks to build on its rapid growth. Originally founded in 1986, Troy was acquired by Paul Kilbride in 2010, and now has a turnover of more than 拢300m.

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The company has invested in 16 of its member businesses to date, and last year acquired online procurement platform Applegate, as one of four purchases the expanding firm made during the period. Bosses said 鈥渁 significant pipeline鈥 of further investment opportunities鈥 had been identified.

Mr Kilbride said: 鈥淭o deliver our strategy of structured growth, we required a minority investment partner that recognised the capabilities of Troy. We are confident that with BGF as key allies we will maintain our growth trajectory and realise the company鈥檚 ambition.鈥

With its latest deal, Troy has appointed Simon King, a former chief executive of DIY retailer Wickes, as its new non-executive chair, following an introduction from BGF鈥檚 talent network.

Mr King said: 鈥淚鈥檓 excited to be joining the board of Troy, working alongside the wider team and BGF to capitalise on significant market opportunities and to position the business for further growth.鈥

The investment deal was led by investors in BGF鈥檚 Bristol-based South West team.

Troy was the main shirt sponsor of English Premiership rugby team Exeter Chiefs during the 2022/23 season.

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