International Dance Supplies (IDS) secures growth capital from Santander with support provided by Lexington
Oct 03, 2017
Lexington Corporate Finance is delighted to have worked with the IDS Management team and Santander Corporate & Commercial to help deliver this important transaction.
Devon-based International Dance Supplies (IDS), one of Europe's largest wholesale dancewear providers, secured growth capital funding from Santander to support further international expansion.
IDS sell dancewear, dance costumes, accessories and dance shoes mainly to dance teachers and dance schools and is headquartered in a 30,000 sq ft freehold facility in Newton Abbot and currently employs 80 staff.
The business has benefited from strong demand for its dance supplies across Europe and is now targeting growth in new areas, in particular in the US. The funds will also support investment in brand, stock, systems and warehousing capability.
Kamlesh Raichura, Managing Director at IDS, said "We have invested significantly in our proposition over the last few years, and believe we are well placed to continue our growth in both the UK and international markets and achieve our business objectives in the coming years."
Peter Abel, Growth Capital Director at Santander, added: "We are delighted to have worked with the management team of IDS to support the business with its current trading and international growth ambitions”
Lexington CF provided financial due diligence support to Santander as part of the Bank’s review of historical financial performance and IDS’s future growth projections.