Partner Article

Kent building supplies company fixed on growth following investment

A Kent-based independent distributors of power tools, hand tools, fixings and fasteners has been boosted by a significant development capital investment.

Folkestone Fixings (FFX) has received backing from funds managed by Foresight Group and both the existing and incoming management teams. Specialist advice for the deal was provided by law firm Cripps and Meta Corporate Finance (Meta).

Incoming managers, Patrick Ker and Tim Horrell had been looking for a new business to invest in following the sale of their previous venture, VJ Technology, which operated in a similar sector.

Patrick Ker said: “We have been searching for some time to find the right sort of business and have found it in FFX,

“It is a really well-run company, with a good reputation, well-known brand and strong growth potential.”

FFX began trading in 2003 and has become one of the UK’s largest independent suppliers of high quality tools, fixings and building supplies.

The company, which has offices in Folkestone and Ashford, began trading in 2003 and is now one of the UK’s largest independent suppliers of tools, fixings and building supplies.

Tim Horrell added: “Our skills complement those of the existing management team and together I am confident we will be able to take FFX into new markets and product ranges that will make the business even more successful and useful for our customers.”

The specialist advice provided to the two entrepreneurs by Meta (Peter Counsell and Mark Ledger-Beadell) and Cripps (Salim Somjee) covered the legal and commercial aspects of their investment.

This was posted in Bdaily's Members' News section by Ellen Forster .