Administrators Paul Berkovi and Mark Firmin of Alvarez & Marsal have been appointed to Troy UK Ltd the UK's largest independent network for tools and maintenance supplies.
Troy's focus was on helping its members - independent distributors of tools, maintenance and industrial supplies - go head-to-head with the national chains; empowering them to maximise their business potential via its national buying power, business support services, expertise and technology solutions.
The business was launched in Bideford, Devon in 1986, when it secured its first supplier agreement with the Dormer brand. The business established its first wholesale arm - Trojan - in 1990, and in 1998, moved to a new headquarters in Barnstaple. In 2000, Troy's supplier base expanded to include Makita and Bosch and in 2010, the business became privately owned.
By 2014, the business had over 140 members, expanding to over 200 in 2016 and more than 300 in 2018, the year in which Troy acquired rival buying group THS. Troy moved its head office to Exeter in 2019 and the following year, acquired data management company EZ-base.
Membership had increased to 350 organisations in 2022, when it acquired supplier platform Applegate. The company website states that by 2023, Troy's membership comprised of 450+ UK independent distributors of tools, maintenance and industrial supplies, with turnover of £260 million.
CAPA have been appointed to carry out a property audit over the 4 properties occupied by the company.
