Thu, 18 Jul 2024 | MBO/MBI
A sliding door technology company based in Warrington has undergone a management buyout (MBO). Interior Door Systems (IDS) was founded in 1996 by Andy Russell and supplies sliding door products to builders, merchants, developers, installers and retailers.
Following the MBO, Andy Russell has stepped down as Managing Director and will now serve as chairman, with the firm’s new management structure to be headed by Managing Director Sam Russell and Commercial Director Steve Healy.
The business will now focus on exploring new opportunities and markets and seek to forge new strategic partnerships.
Andy Russell said that, in spite of a number of challenges during his leadership of IDS, the company has grown and created a “successful heritage”.
He continued: "Now, we are ready for the next stage in our growth, and I recognise the enormous potential that Sam and Steve's vision presents for the future of the business.”
"As a result, I'm delighted to support the management buyout, and I look forward to seeing the business take advantage of the exciting growth opportunities. Needless to say, I am pleased the family legacy of IDS will remain with my son, Sam, who is now taking the mantle from me."
Sam Russell, IDS’s new Managing Director, added: "As part of the family, I have been privileged to see the progress of IDS over the years, and I have always been and will continue to be proud to be a part of the company and its development. Moving forward I am delighted to be working with Steve and our experienced operations team.”
“We are committed to an exciting growth strategy, and together, we are confident that we can deliver against expectations and support the continued aspirations of our team, customers, and business partners."
MBOs are a popular succession option for family-owned businesses and are also becoming increasingly common among other companies prioritising continuity when their owners exit
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