The move forms part of Abbey’s strategy to significantly grow its presence in the North West, and will see businesses in the region benefit from an expanded tooling range and service offering.
This acquisition takes the company’s turnover to more than £5m with the business employing 40 staff and undergoing a recruitment drive to grow the business further.
Both ATN, which is based in Preston, and Abbey will complement one another as they cross sell products and services to the other’s customer bases, and from October 2016, ATN will rebrand as Abbey.
Chris Stead, managing director of Abbey, said: "I’m over the moon, with plenty of synergy between the two businesses they were a natural fit for us. What attracted us to ATN was their extremely innovative approach and strong product range.
"They have built an excellent reputation in the market and this acquisition provides diversification for our business and helps us to continue to build on our knowledge base. We are looking forward to combining the best of both companies to offer customers more choice and an all-round better experience."
Stephen Robinson of ATN said: "This acquisition offers huge potential to grow and develop as part of a much larger business. We’re looking forward to working with Abbey and continuing to offer businesses in the North West best-in-class industrial power tool solutions."
Formed in 1982, Abbey Industrial Solutions is now the largest Atlas Copco Approved Distributor in the UK, specialising in the sales and service of industrial power tool solutions.
NatWest provided funding to support the acquisition. Geoff Schofield, Senior Relationship Manager at NatWest, said: "It’s an exciting time for Abbey and ATN as they look to expand their business offerings in new markets. The management team at Abbey has a clear vision for where they want to take the business and we wish them every success for the future."
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