Stax Trade Centres has announced that it has purchased hardware and ironmongery manufacturer M.P. Smith and Co. Ltd, which has been a supplier to Stax for many years. This is a strategic move by Stax to strengthen its supply chain however both companies will continue to run as separate businesses. “Although this is great news for both Stax and M.P. Smith, it will be very much business as usual for everyone involved,” says Stax Purchasing Director, Simon Wright.

M.P. Smith was established in the mid-70s and using the brand name SECURIT®, has been a longstanding market leader in the UK ironmongery sector. Company founder, Mike Smith, was very keen that any sale would ensure that the company name and reputation would continue after his retirement. 

“M.P. Smith has been a supplier to Stax for over 30 years, and it will continue to operate and supply the wholesale trade exactly as it has done previously,” adds Simon. “Customers of M.P. Smith will continue to receive the same great service they’re used to from the existing team.”

“Making M.P. Smith part of the wider Stax organisation simply makes our supply chain even more robust and allows us to continue offering our retail and trade customers a very successful range of hardware and security products under the SECURIT® brand.”

This latest move is another example of Stax investing in the market in order to support independent retailers and tradespeople across the UK. “We promise to give our customers more choice and more value, safeguarding the SECURIT® brand is another example of this customer centric strategy in action” adds Simon.

Stax were advised on the purchase by Phillip Ball at Myerson Solicitors, and Stephen Verber and John McCaffrey at Alexander & Co Financial and Tax advisors. David Travis and Peter Williams from the Baldwins Corporate Finance team advised the shareholders of M.P. Smith. They worked alongside Michele Phillips of Lupton Fawcett from a legal perspective and Sharon Westbury of Milnes & Co who advised on tax matters.