Phoenix Naylor Abrasives and Jowitt Abrasives, both based in Derbyshire, have been acquired by North West-based Trade Acquisition Partners Limited (TAP) in its first set of investments.
The deals come alongside two others in the UK abrasives and engineering sector, of West Midlands-based Swift & Whitmore Ltd, and Northern Abrasives located in Urmston, Greater Manchester.
TAP director, Ian Davidson, said: “We are delighted to have been able to acquire these long standing and successful businesses and look forward to working with the existing management teams to secure further growth through innovation and investment in both people and technology.”
The businesses have a deep rooted knowledge in the development, manufacture and distribution of abrasive and grinding solutions for multiple applications across the UK, Europe and the rest of the world.
TAP added in a statement: “TAP are delighted to open their portfolio with a complimentary mix of businesses and will be looking to add value to each of the businesses in due course.”
They are now considering other owner managed businesses seeking to exit or require additional capital to support growth or deliver a turnaround.
