Fasteners and tools company Spotnails Ltd has new owners after the Development Bank of Wales supported a management buy-out (MBO) of the business with a multi-million pound equity investment.

Spotnails, based in Bedwas, Caerphilly is a long-standing independent distributor of tools and fastener products to the UK building industry with more than 60 years trading history. It has a national salesforce as well as a manufacturing base with servicing and repair facilities at the Caerphilly headquarters.