Management buyout at IDE Systems
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Company founder Ian Thomas has sold the business to Wayne Woodhead (group managing director), Kevin Warne (group sales director) and Matt Collins (systems operations manager).
Woodhead, who has over 30 years’ experience in the product design, testing and engineering sectors, continues as group managing director. Warne also remains as group sales director, and Collins now acts as operations director. The company is reportedly seeking to appoint a rental operations director and financial director.
Outgoing owners Ian and Sue Thomas comment: “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.”
Woodhead adds: “It’s business as usual as far as our customers are concerned. We continue to help them plan ahead and futureproof their procurement needs by ensuring that they get the best from IDE’s expert services. We remain committed in developing solid supply chain partnerships to ensure that we deliver the best possible service to our customers.
“We now have a team in place that can take the company to the next level and our unique business model of rental and manufacturing, along with investment into new technology, will give us the competitive edge that is required to support the market for years to come.”
He continues: “We are committed to the continued growth of the business and believe it is important to thank those who successfully laid the foundations for IDE to become the formidable, dynamic business that it is today.
“With the introduction of our smart power distribution later on in the year, combined with our strong brand and dedicated personnel, we believe that IDE can push forward and continue to grow in the market.”
IDE Systems was founded in 1994 by Ian Thomas and in 2019 has four depots across the UK. The company has also been involved in high profile projects including the Olympic Games and the FIFA World Cup.
(Jim Evans)
