Telford tool firm’s future secured after MBO

TELFORD-based Industrial Supplies Direct – trading as Tools R Us – has secured the future of the business following an MBO.

It is now under the ownership of long-term employee Ian Shakespeare.

The exact financial details of the MBO are undeclared but Birmingham-based financial consultancy Central Finance raised in excess of £300,000 in alternative financing to fund the deal.

Tools R Us is a ‘one-stop shop’, supplying more than 70,000 different products including washers, chemicals, bespoke bolts, clothing, and eye protection.

Shakespeare, the new managing director, saod: “I have worked for Tools R Us for many years and when an opportunity came along to buy-out the previous owners and put into practice my management experience for my own benefit, it was clear I needed expert advice on gaining finance.

“With the support of Steve Harris at Central Finance, my aim to own the business I was so fond of and grow it for future generations was achieved.”

Harris, a director at Central Finance, said: “ Accessing business finance can be complex, time consuming and can sometimes have a negative outcome, but our experienced team understand the market very well and achieving this six figure finance package is testament to our knowledge of the sector and our understanding of the underwriting criteria often put in place.”