Manufacturer and supplier of tiling and flooring installation equipment QEP has announced its wholly-owned French subsidiary PRCI has completed the purchase of the Tomecanic and Bénètiere trade names and other assets of the two named businesses.
The deal was confirmed on the 19th March 2014 and is the latest in a number of acquisitions made by QEP within the last 12 months, after acquiring Homelux back in March 2013, Plasplugs in June 2013, and Faus Group Inc (Faus USA) in March 2014.
Paul Boyce, CEO – European operations for QEP, said: “This acquisition further highlights our strategy of the growth and expansion of our distribution channels within Europe. The purchase is in line with our group strategy of complementing our organic growth along with supporting selected strategic acquisitions, and Tomecanic-Bénètiere is one of many since the beginning of 2012. As part of QEP’s continuing expansion, the integration of Tomecanic-Bénètiere will leverage our business growth to our existing customer base in France and Europe along with wider reaching opportunities worldwide.
“The acquisition is a strategic fit with our current European and Worldwide brand portfolio, with synergy between the current QEP businesses on so many levels. Any range gaps within our tools categories which were previously identified in each business prior to the Tomecanic-Bénètiere purchase have now been joined up, enabling QEP to offer a more attractive product proposition to our customers.”
QEP’s European brand portfolio also includes Vitrex, Roberts & PRCI within the flooring and tile accessory categories.