Friday, January 13, 2017

News: Druro UK expands with acquisition

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Rotherham-based Duro UK, a leading supplier of synthetic diamond tools and power tool accessories, has acquired a company based in Wales as it looks to expand its customer base.

Duro has its UK head office in Dinnington alongside sister company Yokota UK, and offices and warehousing in Antwerp, Belgium. Focusing on cutting, grinding, drilling and breaking tools for construction materials, the growing firm specialises in diamond, abrasive, carbide and steel based tools.

The firm has completed the acquisition of Pegasus UK and Pegasus Industrial Products for an undisclosed sum. Funding to support the transaction has been structured by the Royal Bank of Scotland's corporate transactions team.

Trading as Pegasus Diamond Blades, the Pontypridd firm is a supplier of all kinds of diamond cutting equipment and accessories.

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Paul Morewood, managing director at Duro UK, said: "We are an innovative thinking power tool accessory specialist and the completion of this deal helps us to expand our customer base across the UK.

"We are looking forward to working with the team at Pegasus Diamond Blades and are also grateful for the backing we have received from the Royal Bank of Scotland and Wake Smith."

Stuart Watson, director in the corporate transactions team at RBS, added: "The acquisition of Pegasus strengthens the geographical footprint for Duro UK Ltd and complements their existing business extremely well.

"It will open up a new customer base and we are very happy to support this acquisition which will increase the future potential of both businesses."

Advisers on the deal include John Baddeley, director at Wake Smith Solicitors who acted on behalf of Duro UK and RBS.

RBS was represented by Stuart Watson and Alan North, a relationship director.

Duro UK website

Images: Duro UK


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