Surface materials specialist distributor IDS has announced that it has been acquired by private equity investor Chiltern Capital.
IDS has been owned by Saint Gobain Building Distribution for 23 years, during which time it has grown to be the UK’s largest distributor of decorative surfaces, doubled its turnover and reported revenues in excess of £120million in 2021.
The company supplies over 12,000 product lines specialising in flooring, worktops, laminates, compact panel products, solid surface and wall panelling to a large and diverse customer base, through a multi-channel business model servicing the kitchen, bathroom, flooring and construction sectors. The company has 11 regional branches, 7 Makeover Centres and an online e-commerce platform.
IDS will continue to operate with the existing management team under MD John Bagshaw, 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.
John Bagshaw commented: “IDS has proved itself over two decades to be a strong business with an ambition for growth and we will be building on the support and infrastructure that being part of Saint Gobain has given us over twenty years. With my experienced management team, we look forward to a bright and dynamic future where we will take the business to the next level. It’s very much business as usual and we look forward to continuing our partnerships with our trusted customer and supplier base. With Chiltern and Tony’s support, we will build on our leading market position, as well as expanding our product offering, to drive faster growth.”
Joe Bennett of Chiltern Capital added: “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 enhance its operational footprint to better serve its trusted customers and suppliers”