Company history

2015

Our mission and vision:

To continue to grow profitability, improve stakeholder returns and drive efficiencies

To be acknowledged commercially as the market leader in terms of service, quality & brand reputation

2016

2016

Trifast is recognised as a leading international specialist in the engineering, manufacturing and distribution of high quality industrial fastenings to major global assembly industries. Our Key sectors are automotive, domestic appliances, electronics and distributors. The Group employs c.1,200 staff across 27 global locations across the UK, Europe, Asia and the USA.

In October, TR expanded its European presence, opening a greenfield distribution and technical centre in Barcelona, Spain. This operation’s initial focus is on the burgeoning Tier 1 automotive, a sector that continues to be an important growth driver for TR.

2015

2015

Trifast acquired Kuhlmann Befestigungselemente GmbH & Co. KG extending its European footprint. Founded in 1996 Kuhlmann is a well-respected highly efficient distributor of industrial fastenings within the domestic German market. Its emphasis is on delivering high quality products and services to its well-established longstanding customer base in the principal sectors of machinery and plant engineering, sheet metal processing and industrial.
TR now operates from 26 locations across three continents and supplies customers in over 60 countries worldwide.

2014

2014

Trifast aquired Viterie Italia Centrale Srl (“VIC”). Founded in 1964 VIC is a European market leader within the white goods industry, and specialists in the design and application of washing machine transit fastener assemblies. It also gives TR a significant presence within the dominant Italian fastener manufacturing industry within Europe. TR now operates in 25 locations across three Continents

2013

2013

The Company continues from strength to strength, all thanks to our dedicated and skilled colleagues, and from humble beginnings has grown to employ over 1,000 people through 23 locations in 16 countries

2011

2011

Trifast acquired PSEP in Malaysia in order to expand the Group’s range of safety critical components demanded by the rapidly expanding automotive sector, an area TR is successfully targeting

2009

2009

Start of three-year recovery plan by the newly implemented Board

2005

2005

Consolidated our position in the UK by acquiring Serco-Ryan, the UK's fourth largest fastener company

2002

2002

Opened distribution operation in mainland China specifically to target European and US companies operating in China

1992

1992

Introduced Vendor Managed Inventory (VMI) into the UK fastener market

1976

1976

Opened our first manufacturing site in Uckfield

1973

1973

Established as a local fastener distributor in Uckfield, East Sussex

Key milestone dates

  • 2002: Malcolm Diamond retired as CEO – handed over to Jim Barker
  • 2005:TR UK’s fourth largest competitor acquired
  • 2007: Jim Barker retired as CEO – succeeded by deputy CEO
  • 2008: Trifast performance lagging behind competitors by 20% (8% contraction vs. 12% average market growth)
    • Mid/Late 2008 – Shareholder confidence begins to fail as profits tumble
  • 2009: Change in key posts around the business by CEO. Investors concerns and staff morale at a low point.
    • March – Shareholder action results in resignation of CEO and the three NEDs. Diamond and Barker requested to return to restore & stabilise the business as Executive Chairman and CEO (appointed 18 March)
    • (NEDs) appointed: Senior Independent Director, Neil Chapman (March) Independent Director, Jonathan Shearman (July)
    • By September 2009: Following extensive restructuring and consolidation, revenue growth is restored, modest recovery in profitability
  • 2010: (March) Group underlying pre-tax profitability restored (£0.92 million);
    • Executive Main Board enlarged from PLC to Operational composition
  • 2011: Revenue growth at 23% and underlying pre-tax profit
    • £3.77 million with virtually no increase in staff numbers
    • Bank finance and support firmly established
  • 2012: EBITDA up 24.3% : Underlying profits up by 32.6%
    • Dividend restoration
    • Results promised in 2009 delivered
    • New three-year strategic plan implemented
  • 2013: NED team further strengthened