A Welsh security and fire protection company is celebrating expansion and an upswing in contract wins following an MBO led by two women directors who took the plunge and bought the company they worked for. Julie Halton and Jennifer Horan had been working for IDS Security & Fire for twenty years and ten years respectively, when the business was put up for sale due to the impending retirement of the previous owner.
Rather than let the company, founded in 1991, be taken over, Julie and Jennifer mounted a successful management buy-out last year. Now the duo of directors are celebrating business expansion with major private and public sector contracts in Wales and across the UK. This has led to job creation and a move to a new HQ on the Cardiff Business Park, Llanishen.
Julie Halton, Managing Director, who was previously finance director, said: “In many ways ours is the classic story of employees believing in their company so much that they buy it for themselves. We are both mums and had brought up our children whilst working at IDS and we did not fancy the prospect of the company worked in for so many years being taken over by someone else. We were so pleased that that the buy-out went ahead so smoothly, and we have not looked back ever since, recently securing a £700,000 contract amongst many others.”
Jennifer Horan, Operations Director of IDS Security & Fire said: “It was a major leap forward for us to take over the reigns of the company but the challenge has been made much easier due to the back-up of an extremely loyal and dedicated engineering and sales team behind us.”