Inflexion appoints Chairman to Ideal Shopping Direct
Retail veteran David Hamid joins with immediate effect
Inflexion Private Equity is pleased to announce the appointment of David Hamid as Chairman of Ideal Shopping Direct (“Ideal”). In his new role he will be overseeing the development of the company and liaising closely between the Inflexion portfolio management team and Ideal’s senior management headed by Mike Hancox as Chief Executive.
Inflexion acquired Ideal in June 2011 in a £78.3m take-private acquisition. Ideal is a leading independent multi-channel retailer, selling lifestyle and niche craft and hobbyist products to consumers through TV shopping channels, the internet and mail order catalogues.
David is highly experienced within the consumer sector having had a career with Dixons including as Managing Director of PC World and Chief Operating Officer of the Dixons Group. David was Chief Executive of Halfords for CVC Capital Partners and has since held several non-executive roles in retail businesses.
David will be joining Ideal as part of Inflexion’s commitment to work with our experienced management teams to increase value and maximise growth opportunities in each company by strengthening management teams and structures, acquiring in-fill businesses where appropriate and providing finance for organic growth. Inflexion works with a number of business leaders and experts on a daily basis, deploying their knowledge and experience for maximum benefit across its portfolio.
John Hartz, Managing Partner of Inflexion Private Equity commented: “David’s appointment is an exciting step forward for Ideal Shopping Direct. His understanding of the consumer sector will prove invaluable for building upon the progress already achieved in the company. We look forward to working with him”.
Mike Hancox, Chief Executive of Ideal said: “I am delighted that Ideal Shopping will be working with a retailer that has the experience and respect within retail that David Hamid has. I know that he has already seen the potential that we have to develop quickly as a multi channel retailer.”