Gresham invests £23 million

IESA Board Members

Gresham invests £23 million in MBO of IESA

Gresham, the UK mid market private equity specialist, today announces that it has invested £23 million in the management buy-out of Warrington-based IESA, the UK market leader in the management of maintenance, repair and operating goods (MRO) expenditure, through integrated supply solutions.

The buy-out plan is to take advantage of the inherent growth in the MRO outsourcing market, consider international opportunities and expand the business into new verticals.

IESA was established in 2001 as an integrated supply business to provide outsourced stores management for manufacturing facilities.

The firm invested heavily in IT, and now uses its software to manage clients' supply chains. It works with clients to reduce inventory costs, streamline procurement and order processes, introduce advanced stock control and invoice management techniques and establish online solutions. The company's client list includes multinational organisations such as 2 Sisters Food Group, AstraZeneca, Jaguar Land Rover, Premier Foods and NSG. IESA currently manages 276 sites in the UK and Ireland.

Mark Blower, partner at Gresham comments: "IESA is a great investment for us. Its market-leading software differentiates it from its competitors and is unrivalled in the UK. We believe this is a fantastic opportunity and with its strong track record, recent customer wins, and our investment and experience, we will work together to exploit the market opportunity presented in the UK, and indeed internationally, for a world class BPO company."

We are also happy to say that following the investment IESA will be expanding and moving to new offices and increasing staff numbers.

The management team at IESA includes Jon Davidson COO, Andrew Perry Commercial Director, and Simon Hilton Operations Director, joined by Charles Bithell as Finance Director and Bill Wilson as Chairman.

Jon Davidson, COO, IESA said: "At the heart of our business is a unique web-based, transaction-driven system, which sets our business apart from the rest of the market. We're looking forward to working with Gresham to maintain our robust market position and take advantage of future opportunities, continue our growth strategy and take the company international. It is a fantastic boost to our business. Gresham delivered exactly what they said they would and on time."

The Gresham team is comprised of Andy Marsh, Mark Blower, Dan Hatcher, Mike O'Brien and Adam Rudd.

Debt was provided by Investec.

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