Buck & Hickman was acquired by Travis Perkins in December 2010 as part of its acquisition of the. However, as a tool distributor, it is not considered a core business for the building materials and products group.
Travis Perkins will use proceeds from the sale to reduce net debt. The sale is due to complete by the end of September.
The management and staff of Buck and Hickman will transfer with the business to Brammer. Buck & Hickman has been trading for 180 years and operates a network of 28 branches throughout the UK. It also has a catalogue and online business. Net assets at 31 March 2011 were 拢32.8m, including intangible assets of 拢13.7m, and gross assets of 拢50.3m.
Buck & Hickman also owns the Roebuck brand of tools.
Brammer distributes industrial and mechanical components such as bearings, belts & pulleys, chains & sprockets, motors, seals, gearboxes, pneumatics and hydraulics. bearings, belts & pulleys, chains & sprockets, linear motion, motors, seals, gearboxes, pneumatics, hydraulics.
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