Nails and fencing business Otter Group bought by Airco Fasteners after falling into receivership

The assets of nails and fencing business Otter Group have been bought out of receivership by Australian hardware business Airco Fasteners.

Otter Group is one of Australia’s largest suppliers of nails, screws and wire products but collapsed into receivership back in March.

Prior to the appointment of external managers, Otter Group had an annual turnover of $27 million, according to receivers.

The 50-year-old business has since been bought by Airco Fasteners for an undisclosed amount.

Airco Fasteners is an Australian family business that specialises in air compressors, fittings and hoses.