Thomson Geer advised industrial fastener company Synergy Business Systems on its acquisition of Specfast Business, the leading supplier of fasteners, plastics hardware and consumables to Australian construction and engineering industries.
Synergy has implemented a steady acquisitions program since 2014 which led to Synergy being acquired by leading diverse industrials business, Metal Manufactures in April 2022.
The acquisition of the Specfast business is Synergy's first since the Metal Manufactures transaction, and forms part of its strategic ambitions to expand its portfolio of 26 owned stores through further bolt on acquisitions.
Synergy aims to create the most comprehensive inventory file available to the Australian construction, engineering, and industrial fastener industries. Synergy Construction & Industrial Supply Group comprises 26 Synergy owned stores along with over 40 Synergy Members stores.