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VID · Main Market · Consumer Products and Services · mcap £93m · 227.5p 2 open situations →

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Open · 2

Insider conviction

1 director buying

£84k in 1 buy
  1. 25 Aug 2026 1. Jan Peter Tewes £84k
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New CEO / reset

CEO recruitment and cost-saving programme

Post-refinancing; H1 weak; CEO starts 17 August

A permanent CEO search followed the £85m recapitalisation completed on 30 March 2026. On 23 July 2026 Jan Peter Tewes was named CEO from 17 August, and FY2026 adjusted EBITDA guidance was cut to £15-18m. H1 results on 5 Aug 2026 confirmed flat like-for-like revenue, EBITDA of £3.0m and net debt of £39.3m.

Start date
17 August 2026; Stephen Harris returns to Non-Executive Chairman 23 Jul 2026 ↗
Background
Brand and distribution channel management at Mars and Grohe 23 Jul 2026 ↗
FY2026 guidance
Adjusted EBITDA £15m-£18m, lowered on 23 July 2026 and reiterated 5 August 2026 5 Aug 2026 ↗
Net debt
£39.3m including £24.2m leases at 30 June 2026, down £103.0m 5 Aug 2026 ↗
Next milestone
Half-year results on 5 August 2026 23 Jul 2026 ↗
H1 2026 EBITDA
£3.0m, up from £2.4m; revenue £110.3m, flat like-for-like 5 Aug 2026 ↗
  1. 5 Aug 2026 Post-refinancing; H1 weak; CEO starts 17 August
  2. 23 Jul 2026 CEO named; starts 17 August 2026
  3. 7 Apr 2026 CEO search ongoing; Board reverting to normal governance
  4. 31 Mar 2026 CEO search underway; savings programme expanded
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Closed · 1

Balance-sheet stress / refinancingDebt refinancing and recapitalisation Completed 30 March 2026; net debt cut · 23 Dec 2025 – 31 Mar 2026

Company filings. Not investment advice.

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