Retail update

There is a new shopfront at Trotter's Mitre 10 in the town of Euroa, north-east of Victoria. The previous teal and orange branding of Home Timber & Hardware and name Saville's Plumbing and Hardware Supplies has been replaced. Ian and Rosalie Trotter, who have owned the business for the last two years, have finally put their name on the shop in Railway Street.

The store was known as Saville's Plumbing and Hardware Supplies in Euroa for over half a century, according to the Euroa Gazette.

Now known as Trotter's Mitre 10, the building has been freshly painted in the colours of the Mitre 10 banner.

Trotter's Mitre 10 continues to stock plumbing supplies, timber, hardware, pool water testing and products, custom flashing, paint, gas refills, key cutting, plaster, and garden irrigation and supplies. It is also an Adventure Kings stockist and have introduced a new range of plants and decorative pots.

Porters

Porters Mitre 10 Mackay in Queensland was named as a top store in the country at the recent National Timber and Hardware Awards. The Mackay city store won in the category for a retail store over 2500sqm.

Porters Group CEO Hayden Cargill said taking out the award meant a lot to the team and the Porters family. He told the Daily Mercury:

Without the continuous support for our local community, we wouldn't be able to achieve such high recognition at a national level.

I am incredibly proud of our entire team. It is a true testament to their hard work and dedication. It is an honour to be recognised as one of the best hardware businesses in the country.

Porters have sites in Mackay, Northern Beaches, Glenella, Sarina, Marian and Cannonvale and employ more than 200 staff.

ATOM industrial and safety

ATOM sells industrial hardware and safety equipment through 12 warehouses around Australia. Items include protective clothing, safety equipment, material handling equipment, cutting tools, pneumatic tools, lubricants, fasteners, transmission products, hydraulics and general industrial products.

The business is now up for sale, according to The Australian Financial Review (AFR).

ATOM is managed by CEO Jason Johnson with founder Mark Bishop and his son, Scott, owning 90% of the company. The vast majority of revenues (80%) come from its Australian business, but it also operates the largest industrial tools supplier in Papua New Guinea and Solomon Islands, under the Bishops brand.

Earnings before interest, tax, depreciation and amortisation (EBITDA) is estimated to be around $40 million.

Prospective buyers could compare it to Wesfarmers' industrial and safety division Blackwoods or construction and asset maintenance supplies business Jaybro. The latter was purchased by Quadrant Private Equity for $600 million to $650 million in 2021, or a 10 times multiple, reports the AFR.

Background

Since its establishment in 1972, Bishops has been an integral part of the development of Papua New Guinea (PNG) through the supply and service of products to a multitude of projects across the agriculture, mining, forestry, manufacturing, marine sectors, and more recently, the oil and gas industry.

It began with two brothers, Mark and Wayne Bishop and has now grown to over 300 staff.

The original business in Port Moresby focused on general engineering, mechanical and marine maintenance.

Today Bishops operates six branches in PNG including Port Moresby, Lae, Mt. Hagen, Kimbe, Madang, Kokopo, and an equipment hire/crane hire division. Industrial sales remain the core of the business.

Brands sold through its outlets include Bosch, Stihl, Cigweld, Flexovit, Insectshield, Spanset, Warrior, Milwaukee, Puma, Enerpac, Alfagomma, Macnaught, Steel Blue, Howler, CRC, Penrite, Loctite and Wacker.

Bishops has also developed an import program and introduced established product names to the PNG market such as King Tony hand tools, Bulldog boots, Hardman clothing, PPE Select and Wirra safety products, and Genpower generators.

Sources: Euroa Gazette, Daily Mercury, PNG Business News and Australian Financial Review