Transcend Corporate, the Thames Valley, Birmingham and Hong Kong based corporate finance adviser, is pleased to announce the management buyout of IDE Systems (Holdings) Ltd (IDE). A Transcend Corporate team, led by Ian Curtis and assisted by colleague Tom Nash, acted as lead advisers to the shareholders of IDE.
Based in Cannock, IDE manufactures power distribution equipment for sale and rental and has provided equipment for use at events such as the London Olympics and the Commonwealth Games.
The management team consisted of Wayne Woodhead, the Group Managing Director, Kevin Warne as Group Sales Director and Matt Collins as Operations Director. Management are looking to strengthen the business with the appointment of a Rental Operations Director and a Financial Director in the coming weeks.
Transcend were appointed by the shareholders of IDE to advise them on the management buyout process. Legal advice was provided to the shareholders by Nick Taylor and Nathan Gray of Higgs & Sons Solicitors, with tax advice provided by David Thomas-Walls of Spencer Gardner Dickins.
Outgoing owners Ian and Sue Thomas commented, “having owned and led IDE since it was established in 1994 we were keen to make sure it continues to grow into the future, yet be able to exit. Having appointed the management team last year we are very pleased to have completed the handover and wish them all the success for the future”.