Private equity firm Aurelius has agreed to acquire Cromwell, the UK-based MRO reseller owned by US distribution giant Grainger.
Grainger acquired Leicester-based Cromwell in 2015 but has struggled to make the business profitable. The decision to sell Cromwell comes after Grainger announced last month that it would close its Zoro UK online business.
Financial terms of the transaction – expected to close in the coming months – were not disclosed. Aurelius’ move for Cromwell comes shortly after it agreed to buy Exertis’ UK and Ireland operations. It will be interesting to see if the firm has identified any potential synergies between the two organisations.
