"The business continues to prosper under new ownership and all the synergies put forward in the proposal to BSS...have been delivered"
Brian Gray, Managing Director, Tricom
Tricom Supplies
Sector |
Business Services |
|---|---|
Status |
Realised |
Deal Type |
Management Buy-out (MBO) |
Builders' merchant specialising in plumbing and heating equipment for the replacement market. Owned by Mannesmann AG during 1990s.
ISIS backed an MBO in 1998 after Tricom became non-core within Mannesmann. Turnover grew from £70m to £120m during ISIS' four and a half year investment. BSS, identified as a potential buyer through Old Mutual, acquired Tricom for £31.8m in 2003.
"ISIS and Tricom's decision to focus on a single buyer was vindicated both by the result and the subsequent performance of BSS's share price. A year later, it was substantially ahead of the All-Share."
Jonathan Bartlett, Old Mutual
Timeline
1998 - ISIS backs MBO
1999 - Tricom acquires Fry & Pollard
2003 - BSS acquires Tricom
