Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Major UK buying group Troy (UK) Limited has gone into administration. Its future is currently uncertain, with options being considered and an active call for buyers – either of the business or its assets – to get in touch with the administrators.
Troy has been replaced in receivership, a statement on the company’s website confirmed that Paul Berkovi and Mark Firmin of Alvarez & Marsal Europe LLP have been appointed joint administrators of Troy (UK) Limited on February 7.
The statement read: “We are currently considering the options available to the Company. If you are a creditor of the Company, we will be writing to you with further information in the coming days.”
The independent engineering distributor was founded in 1986, serving the engineering, industrial and trade sectors, with a buying group of 400-plus members. The news comes a few months after fixings, tools and hardware supplier FFX (Folkestone Fixings) went into administration. Troy was established in Bideford, Devon in 1986 when it secured its first supplier agreement with Dormer. By 2000 the supplier base grew to include Bosch and Makita and in 2010 it went into private ownership and invested into a new membership team.
Within six years that had grown to over 200 members and Troy expanded into trade supplies and manufacturing.
By 2020 that increased to 350 members and in 2023, the membership of Troy was made up of 450+ UK independent distributors of tools, maintenance and industrial supplies.
Having reached a £260 million turnover in 2023, last year the company reported “continued growth of the buying group membership while accelerating acquisitions”.
