Surface distributor IDS has been sold to private equity investor Chiltern Capital by Saint Gobain Building Distribution.
IDS was owned by Saint Gobain Building Distribution for 23 years and during that time it has doubled its turnover and reported revenues in excess of £120 million in 2021. IDS claims that it is the ‘UK’s largest distributor of decorative surfaces.’
John Bagshaw will continue as managing director as he has led the business since its formation from the merger of L Bloom and Meyer Laminates in 1999. Tony Buffin will joins the company as chairman. He has held roles on the boards of Travis Perkins and Kingfisher and currently is chair of HIG-backed Highbourne Group.
Bagshaw said: “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 20 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, investment director at 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.”
The company supplies more than 12,000 of products including in flooring, worktops, laminates, compact panel products, solid surfaces and wall panelling. It has 11 regional branches, seven makeover centres and an e-commerce platform.