Trimite Group Announces Major Investment
London, Great Britain: Trimite Group, Britain's number one industrial paint and powder coatings manufacturer, have completed an agreement for a major investment in the business. The investment also includes the consolidation of Trimite Powders Inc, based in South Carolina, into the Group. The agreement has resulted in the full repayment of the Group's existing bank obligations, making the Group debt free, along with a new controlling private shareholder group, headed by David Roberts.
Trimite Group has been in the Brent family ownership for 2 generations since 1940 and Michael Brent, in his 65th year, has decided to allow new investors to take the Group forward and develop further the growing presence of Trimite internationally.
Trimite Group has grown revenues strongly over the last 2 years. The investment plans for the business including new production facilities both in the UK and throughout the world will support the increasing demand from their world class customers.
Trimite has spent the last 6 months conducting and executing a comprehensive strategic review that is the foundation for the development of the business over the next 5 years. The Group is focusing on customer facing activities to improve lead-times, quality and service levels to maintain and extend its reputation as the number one provider of Industrial paints and coatings.