BDS Secures Shares Buy-Back
BDS successfully secured funding from Santander UK in July 2020 to support a share buy-back from a legacy minority shareholder. As a result of this development, the majority shareholding lies with the founding directors, Lesley Whyte and Eric Green.
The transaction was secured in just five weeks, with Santander UK completing the deal virtually and electronically during the ongoing pandemic.
“We needed to raise finance to restructure the shareholding of our business to free the company to expand metadata provision to our principal markets, the public and academic library sectors,” said Lesley Whyte, Managing Director of BDS. “Our ambition is to secure comprehensive metadata creation and delivery, irrespective of format, in the UK at a time when library budgets are under pressure and digital resources are more important than ever before.”
The buy-back enables BDS to move forward on a more focused footing with planned service developments, such as its new Academic Library Licence, while consolidating and streamlining the use of metadata standards across library catalogues. It also secures a UK skills-base for internationally recognised cataloguing, which currently supports nearly 70 jobs.
“BDS is an exceptional business and we are delighted to support the whole BDS team with the next phase of their growth journey,” said Richard Mathison, Director Structured Finance, Santander UK.
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