The UK’s largest distributor of decorative surfaces, International Decorative Surfaces (IDS), has completed a management buyout in partnership with private equity investor Chiltern Capital, with the support of a multi-million asset-based lending facility from Secure Trust Bank Commercial Finance.
The facility will also support IDS’ working capital needs, as it looks to increase its market share.
Previously a subsidiary of Compagnie de Saint-Gobain (Saint-Gobain), a listed multinational headquartered in France, IDS specialises in flooring, worktops, laminates, compact, panel products, solid surface, wall panelling and composite decking. Headquartered in Newcastle-Under-Lyme, Staffordshire, it supplies more than 12,000 products, serving its customer base through eleven regional branches, seven makeover centers, and online.
IDS will continue to operate with the existing management team under John Bagshaw, managing director, who has led the business since its formation from the merger of L Bloom and Meyer Laminates in 1999. The management team will be supported by the introduction of Tony Buffin as chair, who has previously held roles on the boards of Travis Perkins plc and Kingfisher plc and is currently the chair of HIG-backed Highbourne Group.
