The deal marks Troy’s 19th acquisition and second since receiving multi-million-pound investment from BGF last year. It forms part of the Exeter-based company’s growth strategy to build a nationwide network of independent distributors serving the industrial, trade and engineering sectors.

Paul Kilbride, chief executive of Troy, said: “Scott Direct has been a Troy member for many years and there has been a close connection to the owners throughout that time.

“We know how much independent businesses are valued in their communities and by the businesses that trade with them. Our aim is to help those businesses to grow with investment, without losing the knowledge, passion and levels of customer service that only an independent business can provide.

“Thanks to investment from BGF, we are excited to be continuing on our growth trajectory and realising our long-term ambitions.”

Last year’s investment from BGF was led by James Skade and Hannah Waters, investors in BGF’s South West team.

As part of the deal, Troy appointed former Wickes CEO Simon King as non-executive chair following BGF’s investment. Mr Skade described Troy as “a dynamic company set to go from strength to strength” with an excellent reputation and vast growth potential.

The deal was advised by Dains, Gateley Legal, Shawbrook Bank, Freeths, Gunnercooke, Gillespie Mcandrew and BTO.