Dormole, the privately-owned business that owns Toolbank, has increased its investment in the Irish market by purchasing 100% of the share capital of Tucks O’Brien Ltd (TOB) and Tucks Fasteners & Fixings Ltd (QFF ) – the leading tools and fixings distributors based in Dublin.
Toolbank chairman Andrew Strong said of the deal: “We are proud to have developed our business in Ireland with great support from our customers, the total commitment of our sales team in Ireland and those within our business that support them. However, we believe that if we are to continue to grow our business, offer our Irish customers the full range of products and services we have available, we also need to have access to a locally based team and distribution facilities – as we do in all other regions.”
He added: “We have always been aware of the tremendous loyalty that TOB and QFF receive in the Irish market and whilst we both sell some of the same ranges there are thousands of extra products that we can make available to all retailers and builders’ providers in Ireland by combining our ranges and resources.”
TOB has been in business since 1877 and boasts a 35,000sq ft warehouse, selling 16,000 product lines. Tucks Fasteners & Fixings was established in 1979 and services the hardware, builders merchants trade and electrical wholesale trade throughout Ireland. It carries 6,000 products, including a broad range of fasteners, fixings, screws, nails, power tools, chains and ropes. It also represents a number of leading brands in the Irish and UK market, including Topline, Heaton Buckley and Central Technologies ltd. Both TOB and QFF form part of the Portsmouth-based Gardiner Group.
Gardiner Group chairman Paul Duggan said of the sale: “Dormole’s total commitment to the tools, fixings and hardware trade means they bring more than financial investment. “We feel sure their support and experience will provide us with even greater resource to develop our products ranges, marketing and logistics and enable us to fulfil our ambition of helping all of our customers and suppliers improve their business - it’s a really exciting time.”
In the short term, Toolbank says there will be no change. Its parent firm Dormole has entered into an agreement with Gardiner to oversee the development of TOB and QFF, with support and input from Toolbank. “TOB and QFF will continue to be Irish businesses with Irish leadership,” said the company. Bob Boxwell will continue as TOB managing director and Gary Hogan as managing director of QFF. Meanwhile, Toolbank’s Irish business will continue to operate as it has done for more than 20 years, under the leadership of regional director Kevin Carver.
For more information contact your local TOB, QFF or Toolbank representative.