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The Scott Group Ltd, formerly Scott Timber Group, has embarked on a further diversification of the business after acquiring tools and engineering consumables business Fasco.
This now brings the Group’s acquisitions to 26 since 1998 and puts it on course to grow its existing turnover of £85 million to £150 million within the next three years.
Based in Grangemouth and the Shetland Islands, Fasco’s arrival comes as Scott Group owners John and Norman Scott enhanced their personal property portfolio with the multi-million pound acquisition of property business ROK Holdings.
With turnover of £10 million and 60 staff, Fasco presents a strong growth opportunity for the Scott Group which will be looking to cross-sell tools, industrial fasteners and health and safety equipment and clothes to its existing customer base of 3000.
The acquisition of Fasco comes as the business consolidates its offices, workforce and distribution centre in new purpose built premises at Grangemouth where excellent transport links and a strong business community are sure to support growth.
John Scott, Managing Director of the Scott Group, said: “We are buying Fasco to grow it and we believe there will be very strong opportunities to do this with the access they will now have to a much larger customer base.
“Our existing customers buy this type of equipment on a regular basis and Scott Group is developing a strong proposition that offers companies the convenience and cost savings of dealing with one supplier.
“In the next year our aim will be to grow Fasco’s turnover to £15 million.
“We are also looking forward to utilising the expertise of ROK Holdings owner John Quinn who has done a tremendous job in creating a strong team and building a highly skilled workforce. He now joins the Scott Group and his entrepreneurial drive and flare will be a key asset for us as we target further growth and expansion.”
Formerly the Scott Timber Group, the Scott Group has re-branded to reflect its growth and diversification with divisions in pallet manufacture, packaging, reconditioned pallet supply, wood waste disposal, transit packaging and agricultural box manufacture.
Contact: alan.garland@bigpartnership.co.uk
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