Primary Capital Invest in VJ Technology
Investment group Primary Capital backs management buy-out of VJ Technology from SIG plc.
Ashford, Kent – 2 July 2018.
VJ Technology (VJT), an industry-leading distributor of specialist fixings, fasteners and building consumables, is excited to announce that it completed a management buyout backed by growth investor, Primary Capital Partners LLP, on 29 June 2018.
Talking about the acquisition of VJ Technology, Alistair Armstrong, Partner at Primary, said “We are keen to work in partnership with the experienced management team in place at VJ Technology to help build on an outstanding business and deliver further growth. The quality of VJT’s people, technical expertise and service proposition clearly came across as market-leading from customer and supplier feedback and we will seek to build further on this strong platform.”
The investment from Primary will provide an excellent opportunity for VJ Technology to further improve its service, with enhancements expected in its logistics operations. A key part of the business plan is for geographical expansion, possibly including selective acquisitions, to provide new and existing customers with an even wider and better-quality service.
Mark Tomlin, CEO of VJ Technology, said “This is a really exciting time for VJT and our employees. Primary has given us the opportunity to invest in the business and our people to further improve the high standards of customer service we can provide. VJT is a very passionate and energised business and that is down to the commitment of our workforce.”
“We strive to significantly increase our business with new and existing customers and see a great opportunity for technology enablement in construction, so reducing end-to-end process costs for our customers and improve efficiencies as well as service excellence. We value many long-term relationships with our customers forged over a number of years and look forward to expanding our customer base. We will therefore be investing in our people to ensure they have the right tools and capabilities to serve our customers and enhance what we do in the future.”
VJT looks forward to continuing its strong growth as a proud and ambitious standalone business.