International Decorative Surfaces says that its regional coverage has been further reinforced by the acquisition of the business of Solent Laminates Ltd of Havant.
IDS bought Solent’s stock, customer database and ‘goodwill consideration’ for an undisclosed sum.
The company said that the Solent business, previously part of the Hudson Solent Group, dovetails neatly with its 10-depot national network. The majority of ex-Solent customers are being serviced by IDS Swindon, the remainder by its depots in Aylesford and Woodford, all of which are backed up by the 90,000ft² IDS central distribution hub at Nuneaton.
The company maintains that the acquisition was also a good fit in terms of product range, with both Solent and IDS carrying leading laminate brands such as Formica, Polyrey, Abet, plus worktops from Prima, Omega and Axiom.
IDS managing director John Bagshaw said that the move was part of the company’s strategy to ‘maintain market leadership’ and strengthen its combination of national and ‘real regional presence’.
He added that IDS was still exploring other routes for expansion.
‘From a business perspective, IDS is always looking at the market and assessing options, of which one is acquisition. The surface materials market is consolidating and we are constantly seeking out niche markets which present margin opportunities.
‘Over the last two years IDS has successfully grown its market share – laminate sales are up 10% each year – and rather than [just] take out competitors, what is of more interest to me are bolt-on acquisitions, for example [of] specialist companies with expertise in certain niche sectors that give us greater penetration.’
