Frank Key Group announces important acquisition

Frank Key Group announces important acquisition

Frank Key Group Limited has announced its acquisition of the C Bancroft Group, complete with its two trading subsidiaries — Banson Tool Hire Limited and Charles Watson (Ironmongers) Limited.

Banson Tool Hire is a 10 branch hire business with its head office in Halifax, West Yorkshire. As well as Halifax, branches are located in Batley, Bradford, Huddersfield, Keighley, Leeds, Oldham, Rochdale, Rotherham and Wakefield. The business has traded since the 1960s and became available due to the retirement of the brothers who owned and managed this family business. To integrate these branches into the current Frank Key hire operations, Richard Meeks has been promoted to the role of Group Hire Director.

Charles Watson Ironmongers has the same head office in Halifax and a smaller branch in Leeds. It has also been trading since the 1960s and has a number of complimentary product lines to the Frank Key existing merchant businesses. In addition to the branches, the business has strong online trading and Frank Key is looking to expand on this, over a wider product range.

James Norton, Group Managing Director of Frank Key, said “With the acquisitions, we welcome a further 60 members of staff to the Frank Key team and it greatly expands our number of trade outlets, moving further north into West Yorkshire and Lancashire. The purchase expands our hire operation to 14 branches across five counties, with the benefit of adding specialist ironmongery depots to our builders’ merchant branch network”.

Martin Bancroft,  shareholder and Director of C Bancroft Ltd, said “As a family owned and managed business for over 75 years, the former shareholders and directors are pleased that the business, including subsidiary companies Banson Tool Hire Ltd  and Charles Watson (Ironmongers) Ltd, has been acquired by the Frank Key Group Ltd, itself a family business for over 100 years. We are confident that the acquisition will significantly strengthen the tool hire and specialist ironmongery sales of the Frank Key Group Ltd and that the ongoing expansion plans provide continuing confidence and stability for customers, suppliers and employees into the future.”

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