LDC Top 50 2025
Nico Master
Managing Director
Altomed and Mid-Optic
Nico Master has had an eclectic career. After studying medicine at Oxford, he worked as a junior doctor before switching to investment banking. Keen to run his own business, he began researching SME opportunities: “I liked the idea of taking a good business and making it even better.”
In 2018, he acquired Gateshead-based Altomed, a long-established supplier of ophthalmic surgical devices, and added Mid-Optic, an established supplier to the optician and optometry sector, in 2021. The group has grown into the UK’s leading independent supplier to the eyecare market, shipping 1.5 million products a year. “Now we want to use our dominant UK position to grow the business internationally.”
We’re not about building an empire, we’re about building trusted relationships.”
Q&A
What drew you to Altomed?
I spent about two years meeting more than 100 business owners across the UK, from pet-food makers to toy manufacturers, looking for a solid, well-run company I could build on. Altomed stood out. It wasn’t a turnaround case but a nearly 50-year-old business with something very precious: a trusted brand in a stable sector with a committed and experienced team. I felt we could take that foundation and do even better things.
How has your view of leadership evolved?
When I worked in investment banking, I thought all the talk about culture was nonsense. I’ve now done a complete U-turn. You can’t achieve anything without great people and we are fortunate to have a fantastic team. We promote from within, back young talent and trust them to lead; I live in London and visit our Newcastle HQ once a week. I think you get the most from people when you take them out of their usual environment. I hate the phrase, “We’ve always done it like that” – that’s the kind of mindset I’m always challenging.
What sets your business apart?
While others in our sector often switch suppliers or look to rapidly expand product lines, we prefer to move slowly. We’re not about building an empire, we’re about building trusted relationships. I’ve learned I’m very good at saying no. We’re approached all the time by manufacturers keen to work with us, which is a privilege, but we’ll only take something on if it’s genuinely right for our customers.
