UK’s PRD Group Acquires Fastener Network
UK’s PRD Group Acquires Fastener Network
Jason Sandefur
UK-based PRD Group acquired the Fastener Network in a management buyout led by PRD’s Simon Atkinson, the Birmingham Post & Mail reports. Terms were not disclosed.
Fastener Network is a distributor of fasteners and other supply products.
Atkinson, a former managing director of Fastener Network, leads PRD, which manufactures more than 90,000 different kinds of standard and non-standard fasteners and allied products, from small screws and nuts and bolts to washers.
The management team includes Atkinson, a majority stakeholder; John Ellis, group operations director; and Mark Daker, sales director. The team has a combined 62 years of experience in the fastener industry.
Together the two companies have operations in Bromsgrove, Christchurch, Stevenage and Redditch.
PRD said it will invest in sales and marketing strategies to increase its UK market share, while also looking to break into international markets.
“Our strategy is based on organic growth in the UK, while looking to exploit suitable business opportunities in international markets,” Atkins stated. �2008 FastenerNews.com
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