Close backs IDIS MBO

IDIS, a Surrey-based importer and distributor of unlicensed pharmaceuticals to named patients, has completed a £22 million management buyout with the backing of Close Brothers Private Equity.

Incumbent managing director Natalie Douglas is leading the buyout team, which also includes former DHL Europe, Middle East and Africa chief operating officer Nick Butcher, who assumes the role of chairman. Says Douglas, ‘[we are] delighted to have the backing of Close Brothers Private Equity and have clear ambitions to grow the business substantially, both in the UK market and in continental Europe.’

To date, IDIS – which generated £41.4 million of revenue last year – has traded principally in the UK. This continues to represent around 70 per cent of sales, although progress is also being made in both France and Germany.

‘We are confident in IDIS’ growth prospects, particularly given its regulatory knowledge, its long-standing customer and supplier relationships and its pan-European presence,’ Close Brother’s Sean Dinnen concludes.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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