Tag: MBO

Management buy out of IDN Supplies

Bolton-based VAR IDN Supplies has been acquired through a management buyout, and the firm will now be headed up by new joint CEOs David Shuttleworth and Darren Clayman (pictured).

Under the deal majority shareholder, Gareth Stocks will exit the company.

In a statement, the company said that Stocks was leaving the company in an extremely strong position.

“This MBO has been on the cards for over a year, allowing careful planning and structure. This is great news for all involved – our staff, suppliers and customers – because it means there will be virtually no change. It’s essentially business as usual.”

IDN was founded in 1988, initially selling IBM printer ribbons, and now provides a range of IT and audiovisual products.

The firm reported sales of £24.5 million for the year ending 31 July 2017, up from £21.7m in the previous year. Operating profit was £271,245.

Co-CEO Shuttleworth said: “The company has been growing from strength to strength. We have high hopes for the future of IDNS, and a clear vision and plan on how to move the company forward.”