IDS announces its acquisition by private equity investor Chiltern Capital
Specialist distributor of surface materials, IDannounced that it had been acquired by a private investor, Chiltern Capital.
IDS has been part of Saint Gobain Building Distribution for 23 years, during which time it has become one of the largest distributors of decorative surfaces in the UK, doubled its turnover and recorded revenues in excess of 120 million pounds sterling in 2021.
IDS provides over 12,000 specialist product lines in flooring, countertops, laminates, compacts, panels, solid surfaces and wallboards to a wide and diverse customer base, through a business model multi-channel serving the kitchen, bathroom, flooring and construction industries. The company has 11 regional agencies, seven makeover centers and an online e-commerce platform.
IDS will continue to operate with the existing management team under John Bagshaw, Managing Director, who has led the business since its inception following the merger of L Bloom and Meyer Laminates in 1999.
The management team will be bolstered by the introduction of Tony Buffin as chairman, who previously held positions on the boards of Travis Perkins plc and Kingfisher plc and is currently chairman of the HIG-backed Highbourne Group.
“IDS has proven itself over two decades as a solid company with an ambition for growth and we will rely on the support and infrastructure that our membership of Saint Gobain has given us for twenty years,” said John Bagshaw.
“Along with my experienced management team, we look forward to a bright and dynamic future where we take the business to the next level. It’s business as usual and we look forward to continuing our partnerships with our customer base and trusted suppliers. With the support of Chiltern and Tony, we will build on our market leadership position, as well as our expanded product offering, to accelerate growth.”
Joe Bennett, Chiltern Capital, adds: “We are delighted to partner with John and his management team. With our investment and strategic support, IDS is well positioned to accelerate the development of its product portfolio and improve its operational footprint to better serve its trusted customers and suppliers.