Stealth moves into workwear JV

ASX-listed Stealth Global Holdings has entered into a joint venture agreement with Bisley Workwear to launch its products into the UK, West African and European markets.

UK-based Troy UK and United Tooling Solutions will distribute Bisley Workwear as their master workwear brand across all sales channels.

Troy is the UK’s largest independent buying group of industrial supplies with 300 members, over 400 trade retail outlets, and annual revenue of around £155 million.

Perth-based Stealth is a global distributer of safety, industrial and workplace products.

UTS currently owns and operates eight trade store branches across southern UK, and operates an online channel via Amazon UK.

In a statement, Stealth said its contribution to the JV would be the transfer of its existing African Bisley customers and UK domestic sales programs into the new joint venture, which was likely to reduce Stealth’s expected revenue for this financial year by around $2.8 million.

However, Stealth said it expected a positive return on this investment in the form of additional growth in the 2020 financial year and beyond.