September 2023 - The UK's largest distributor of decorative surfaces, International Decorative Surfaces (IDS), is on track for continued growth following its successful carve-out from French multinational, Compagnie de Saint-Gobain (Saint-Gobain) in 2022.
Led by a new management team - headed by CEO Andy Sutton, CFO Kevin Riddle and COO Paul Burns - the business has undergone a transformation through investment into its operational systems, product lines, and people.
This has included investment in its IT infrastructure to become standalone, alongside the roll-out of new finance, HR and transport systems to improve operational efficiency across the business. IDS has also invested in additional warehouse capacity at key locations and new product lines.
Headquartered in Newcastle-Under-Lyme, Staffordshire, IDS supplies more than 12,000 products to its customer base through its national branch network, and online store. The business specialises in flooring, worktops, laminates, compact, panel products, solid surface, wall panelling and composite decking.
To complete a management buyout from Saint-Gobain, IDS partnered with private equity investor, Chiltern Capital. Completing in 2022, IDS were also supported by a multi-million asset-based lending facility from Secure Trust Bank Commercial Finance, that has underpinned its recent transformation.
Andy Sutton, CEO at International Decorative Surfaces, said: "The last year has been pivotal in our evolving journey as a newly independent business. With our new management team in place, our focus remains anchored in continuing to grow our operations as a newly-independent entity, Our people and culture sit at the heart of this strategy, coupled with strengthening the capabilities of our workforce and forging new relationships to ensure we foster an engaging and transparent workplace for all, and that is reflected in improved relationships with both our suppliers and customers.
"The support and guidance of Chiltern Capital and Secure Trust Bank cannot be understated. We have been able to build a constructive, positive relationship, ensuring our collective goals are aligned and the business continues to flourish. This has ultimately meant that every decision we have made has been passed unanimously by the Chiltern team. The strength of this relationship will ensure we continue this strong performance over the coming years."
James Ambrose, Regional Sales Director at Secure Trust Bank Commercial Finance, said: "Given the management buyout represented both a huge opportunity and challenge for both IDS and Chiltern, we were able to forge a strong relationship and work flexibly to provide the necessary financing required. The success of the business over the past year is a prime example of how Secure Trust Bank's bespoke facilities can be tailored to the specific needs of a business and its private equity partners. I look forward to continuing this work over the coming years and continuing to see IDS flourish."
Joe Bennett, Investment Director at Chiltern Capital, added: "IDS represents a highly entrepreneurial business that stands at the forefront of its industry. Having worked closely with the team from the outset of the transition process, we have been able to support them on this exciting next stage in the businesses evolution. By building such a strong relationship with IDS and Secure Trust Bank, the collective pool of knowledge has allowed for a smooth process throughout, ensuring we're delivering on an informed and ambitious strategic growth plan for the coming years."