VISION

Duncan & Todd Group, the Aberdeen-headquartered optical business, has its sights set on further growth including acquisitions after securing a major eight-figure investment package.

As part of the £15 million deal with private equity investor LDC, Duncan & Todd’s existing backer, the Business Growth Fund (BGF), will exit its minority stake.

Frances Rus, chief executive of Duncan & Todd, said: “With BGF’S support we have made significant progress over the past five years and we’re now at a pivotal point in our growth journey.

“LDC’S investment will provide both the financial backing and strategic support to allow us to expand capacity in some of our existing stores, roll out audiology nationally and make selective further acquisitions, helping us to take Duncan & Todd to the next level and bring our market-leading services to a larger customer base.

“I’m looking forward to our partnership with LDC as we realise the growth ambitions of the business together.”

0 Frances Rus, CEO, led a management buyout at Duncan & Todd in 2007

FRANCES RUS, CEO

Founded in 1972, the business operates through three divisions – retail, manufacturing and corporate – employing more than 250 people across its national branch network and at a state-of-the-art ophthalmic lens laboratory, Caledonian Optical, in Aberdeen.

The firm also provides outsourced corporate eye care services to more than 200 public and private sector customers, through its Smart Employee Eyecare brand.

Rus has overseen the growth of Duncan & Todd since leading a management buyout in 2007. Since then, and with funding from BGF, the business has invested heavily in its manufacturing capability and expanded its national footprint from its original base in the North-east to 28 stores from the Central Belt to the Highlands, including the 2020 Optical chain in central Scotland.

For the financial year ending 31 March 2017, Duncan & Todd generated more than £16m of revenue and underlying earnings

“I’m looking forward to our partnership with LDC as we realise the growth ambitions of the business together.”