Ambitious plans to boost annual sales by a further £1 million have been unveiled by a Dorset company following a management buyout. Directors Ron Vicary and Malcolm Macinnes have acquired the controlling shares in DHS Tool Supply for a seven figure sum. Advisers for the buyout included Mark Aitchison and David Chapman of chartered accountants and business advisers Princecroft Willis LLP; Matthew Fretten of law firm Frettens Solicitors and Danny Haywood and Steve George of the Royal Bank of Scotland.
DHS, which specialises in supplying cutting tools to precision engineering firms, was founded in 1969 and employs 33 staff at three sites in Poole, Yeovil and Plymouth. It has an annual turnover of £3.7 million and 1200 customers across an area which stretches from Cornwall in the west through to Wiltshire and Hampshire. Expansion plans by the new owners include the launch of a dedicated tool-buying website, predicted to increase annual sales by £1 million within the next three years. They're also planning to acquire other companies as and when opportunities arise.
Mr Vicary said: "We're excited about the future and extremely confident for the company's prospects. I was at the stage in my working life when, perhaps, I could have started to take things a little easier but this was too good an opportunity to miss." Mr Macinnes said he hoped extra jobs could be created as DHS expanded its operations. "We have had a very positive reaction to the buyout from our staff," he added.