Hardware business secures £6m investment for growth

Olympic Fixings Group, the Altham-based business which supplies hardware products to the merchant trade throughout the UK and Ireland, is all set for growth after a £6m combined investment from PHD Equity Partners and Secure Trust Bank.

Founded in 1989 by chartered accountant Cliff Yates, it now employs over 60 people in Altham and Bangor, Northern Ireland, and has a turnover of just under £10m.

While Cliff Yates, who is managing director, and George Brookes, finance director, will stay with the company, it also plans a number of key appointments to add to the management team to facilitate their eventual retirement.

Craig Richardson said: “Olympic Fixings Group is a long established and solid business which prides itself on quality of service and the breadth of its product range. While it has achieved steady growth since its inception, there remains plenty of scope for further development in its offer to existing customers and through expansion.

James Dow, managing partner added: “Cliff and George are marvellous entrepreneurs and have done a fantastic job building a very special business. We are delighted they have chosen to work with us to help them fulfill their personal and corporate ambitions.”