The UK’s leading engineering distributor, Troy Group, has acquired award-winning technology firm Applegate, with its online marketplace, extensive data and artificial intelligence capabilities.
Applegate brings longstanding academic relationships with Exeter and Plymouth universities, which have supported the development of innovative machine learning technology. All employees are retained and the company will remain based in Barnstaple, North Devon.
“Data and technology will power the future of our industry,” said Troy Group Chief Executive, Paul Kilbride. “As our business continues its rapid expansion, it’s vital we use great technology to support our members in delivering exceptional service to customers. Acquiring Applegate adds to the brilliant team we already have; I’m excited about incorporating the digital marketplace into our offer and the services this will enable us to develop."
For Applegate’s CEO, Stuart Brocklehurst, the move is a natural fit. “From the start of the conversation with Troy it’s been clear that the ethics and culture of the group made for a perfect match. The whole team are thrilled to be joining Troy and looking forward to working with our new colleagues.”
This is the fourth acquisition Exeter-based Troy has completed this year as the group expands rapidly - moving from 25th, to 19th, to 13th largest business in the South West in the last three annual rankings by Francis Clark and the Western Morning News. Main shirt sponsor for the Exeter Chiefs, whilst Troy’s operations are spread all across the UK and Ireland the group has deep roots in the west country.