A management buyout by three members of BDC’s senior management team has saved the north-London based electrical appliance distribution brand
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.
The new business is called BDC 2008, though will trade as BDC.
The deal includes BDC’s brands Micromark, Coolzone and Powerlectrik.
BDC 2008 managing director Jeff Moody 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.”
BDC will operate out of six centres around the M25 area, with national distribution being serviced from the company’s 7.5 acre warehouse headquarters in London.
BDC went into administration last November.