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Troy UK to Target New Members and Suppliers Following £1m in Funding

Troy UK Ltd is to strategically grow its membership and expand its supplier base as part of its plan to grow revenues to £100 million by 2018 following £1 million in funding from Santander Corporate & Commercial.

Barnstaple-headquartered Troy UK Ltd (“Troy”), the membership-based industrial group, is to strategically grow its membership and expand its supplier base as part of its plan to grow revenues to £100 million by 2018 following £1 million in funding from Santander Corporate & Commercial.
 
Established in 1986, Troy has grown into a significant business by combining the purchasing power of leading UK independent distributors with the country's market-leading manufacturers. The firm has seen significant growth in membership, with revenues of £65 million as of 2014, with forecast turnover for 2015 of £75 million.
 
Membership now stands at over 180 companies covering 232 locations throughout the UK, drawing on a diverse database of over 300 suppliers. At the last review of its members, the firm’s combined purchases were in excess of £500 million – making Troy members collectively larger than any UK national distributor.
 
Supported by Santander for the past two years, the firm is now looking to expand even further with new members and build upon its excellent relationships with key suppliers. The £1 million in funding from Santander Corporate & Commercial involves a specialist supplier payments credit line which means that suppliers will receive payments earlier than standard negotiated terms.
 
Paul Kilbride, Chief Executive of Troy UK Ltd, said: “We have benefitted from exceptional growth over the past few years, a testament to Troy UK’s business model and strong focus on serving members and our suppliers. Santander has been a key part of our growth story over the past two years, and I’m confident that the new supplier facility from the bank will help us to expand further and reach our target of £100 million in revenues over the next three years.”
 
David Bird, Deputy Regional Director, Bristol & South West, Santander Corporate & Commercial, said: “Troy UK’s vision is to become the most effective buying organisation for independent industrial distributors operating in the UK and Ireland. The group will do this through a combination of continuous investment in its people and information technology, while also improving sourcing and buying on behalf of its members. I’m delighted that Santander is able to support such a successful, innovative and high growth business.” 

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. 

Notes to editors
For media enquiries regarding Troy UK, please contact Paul Kilbride on 07803 023 770
 
For Santander Corporate & Commercial media enquiries, please contact:
 
Bijal Tanna                  020 7756 4189   Mobile: 07860 259 217
Andy Smith                 020 7756 4212   Mobile: 07824 473 338   
 
The Santander Corporate & Commercial press office operates from 8.00am to 6.00pm. Outside of these hours please call 0800 5877708.

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