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BDC lives on thanks to MBO
BDC LIVES ON THANKS TO MBO
The name BDC lives on in electrical distribution.
Thanks to a management buy-out (MBO) by three of the former entity’s senior management team, the North London based distributor continues to offer independent electrical retailers and manufacturers a highly focussed route to market. Jeff Moody, Ray Taylor and Steve Gallagher put together a business plan and organised a financial package that satisfied both new venture capital investors and the Administrators of the old business, enabling BDC 2008, as the new business is titled, to recommence trading.
Jeff Moody, Managing Director of BDC 2008 (trading as BDC) commented, “We are delighted by this MBO which enables us to continue to bring the core brand values and benefits of the old BDC to customers and suppliers while providing them with the financial strength and vitality of the new, leaner and more robust operation we have today.” The new BDC will operate out of six centres around the M25 area with national distribution being serviced from the company’s 7.5 acre warehouse HQ in London.
ENDS
Enc: Statement regarding BDC’s administration; Profile of BDC 2008’s directors
Bridisco in Administration
Bridisco - The British Distributing Company - was established in 1961. It was one of the UK’s largest independently owned wholesaler and distributor of electrical goods including small appliances, major appliances, electrical components, security systems, lighting and consumer electronics. Recently, BDC had been experiencing trading difficulties and liquidity constraints which, combined with losing credit insurance, resulted in the business going into administration. Alan Hudson and Roy Bailey of Ernst & Young LLP were appointed as joint administrators of the company on 21st November 2008.
BDC 2008 - The new structure
Jeff Moody, (aged 47), Managing Director:
Moody, who has almost 25 years experience in the industry, previously held roles across Marketing, Purchasing, Sales and Category functions. He states, “The MBO allows us to work closely with customers and suppliers to further enhance our range of products and our ability to deliver. We aim to continue to build on this strong foundation with an ongoing commitment to providing a quality service. We have put together a business model aimed at achieving profitable growth, and, with the support from our suppliers together with high levels of customer loyalty, we were offered substantial support from leading city investors”.
Steve Gallagher, (aged 40) Commercial Director:
Gallagher has 21 years experience in the industry and has held responsibility for sales at all centres. He says, “Our aim is to develop our existing strong business relationships and further strengthen our market position as a leading electrical distributor of commercial and retail products. We have a loyal team of staff who have the enthusiasm and dedication to ensure the new BDC achieves our goals.”
Ray Taylor, (aged 49), Operations Director:
Ray Taylor also brings over 20 years vital experience with him, having managed the operational and logistics function for the whole group. Taylor comments “My immediate priority is to improve stock availability by focussing on fast moving, core products in the centres and reducing delivery times to customers, helping to make BDC the number one choice for customers again”.
BDC Centres Network
BDC’s Head Office will continue to be based at their 7.5 acre warehouse site in North London, which will facilitate a nationwide delivery service. BDC will operate from five Centres based at Beckton, Croydon, Green Lanes, Park Royal and Watford. Company brand names have been transferred to BDC 2008 including Micromark, Coolzone and Powerlectrik.
ENDS
Editors Note: For further information contact Richard Burke, Ricon Marketing, on 07711 444 198. e: burke474@btinternet.com
The name BDC lives on in electrical distribution.
Thanks to a management buy-out (MBO) by three of the former entity’s senior management team, the North London based distributor continues to offer independent electrical retailers and manufacturers a highly focussed route to market. Jeff Moody, Ray Taylor and Steve Gallagher put together a business plan and organised a financial package that satisfied both new venture capital investors and the Administrators of the old business, enabling BDC 2008, as the new business is titled, to recommence trading.
Jeff Moody, Managing Director of BDC 2008 (trading as BDC) commented, “We are delighted by this MBO which enables us to continue to bring the core brand values and benefits of the old BDC to customers and suppliers while providing them with the financial strength and vitality of the new, leaner and more robust operation we have today.” The new BDC will operate out of six centres around the M25 area with national distribution being serviced from the company’s 7.5 acre warehouse HQ in London.
ENDS
Enc: Statement regarding BDC’s administration; Profile of BDC 2008’s directors
Bridisco in Administration
Bridisco - The British Distributing Company - was established in 1961. It was one of the UK’s largest independently owned wholesaler and distributor of electrical goods including small appliances, major appliances, electrical components, security systems, lighting and consumer electronics. Recently, BDC had been experiencing trading difficulties and liquidity constraints which, combined with losing credit insurance, resulted in the business going into administration. Alan Hudson and Roy Bailey of Ernst & Young LLP were appointed as joint administrators of the company on 21st November 2008.
BDC 2008 - The new structure
Jeff Moody, (aged 47), Managing Director:
Moody, who has almost 25 years experience in the industry, previously held roles across Marketing, Purchasing, Sales and Category functions. He states, “The MBO allows us to work closely with customers and suppliers to further enhance our range of products and our ability to deliver. We aim to continue to build on this strong foundation with an ongoing commitment to providing a quality service. We have put together a business model aimed at achieving profitable growth, and, with the support from our suppliers together with high levels of customer loyalty, we were offered substantial support from leading city investors”.
Steve Gallagher, (aged 40) Commercial Director:
Gallagher has 21 years experience in the industry and has held responsibility for sales at all centres. He says, “Our aim is to develop our existing strong business relationships and further strengthen our market position as a leading electrical distributor of commercial and retail products. We have a loyal team of staff who have the enthusiasm and dedication to ensure the new BDC achieves our goals.”
Ray Taylor, (aged 49), Operations Director:
Ray Taylor also brings over 20 years vital experience with him, having managed the operational and logistics function for the whole group. Taylor comments “My immediate priority is to improve stock availability by focussing on fast moving, core products in the centres and reducing delivery times to customers, helping to make BDC the number one choice for customers again”.
BDC Centres Network
BDC’s Head Office will continue to be based at their 7.5 acre warehouse site in North London, which will facilitate a nationwide delivery service. BDC will operate from five Centres based at Beckton, Croydon, Green Lanes, Park Royal and Watford. Company brand names have been transferred to BDC 2008 including Micromark, Coolzone and Powerlectrik.
ENDS
Editors Note: For further information contact Richard Burke, Ricon Marketing, on 07711 444 198. e: burke474@btinternet.com
