Premier snapped up by Brammer
Industrial parts distributor Brammer has acquired a Northampton-based bearing company.
Premier Bearing Company, which was established in 1969, has been bought by Brammer UK, a subsidiary of the London Stock Exchange-listed Brammer plc.
It supplies bearings and power transmission products, hand tools, protective workwear, factory consumables, fluid power, inventory management and vending products.
The Camlee Group acted as lead adviser on the deal while Hill Dickinson advised vendors Stephen and Patricia Sizers.
Cameron Varley, managing director at The Camlee Group, said "We are delighted to have concluded this deal on behalf of the vendors in such a short space of time.
"Whilst we generated significant interest in the business from the outset, Brammer had early mover status and their desire to complete this acquisition was underpinned by the level of synergy between the two businesses."
Jonathan Gillow, senior associate at Hill Dickinson, added: "We are very pleased to have helped Steve and Trish on the transaction. We look forward to seeing the Premier business develop and further succeed under the ownership of Brammer."
Last month, Brammer warned its pre-tax profit will be lower following reduced spending by some of its largest customers.