IGF backs furniture maker's growth plans

A North Lincolnshire furniture manufacturer has secured new funding to support its next phase of growth and increase production capacity.

Lebus Upholstery has received an undisclosed asset-based lending facility from Independent Growth Finance (IGF) to accelerate its strategic expansion plans.

Established in 1840, Lebus is one of the UK’s largest manufacturers of upholstered furniture and operates from a 250,000sq ft manufacturing facility in North Lincolnshire.

The company is known for its British-made upholstery, combining more than 180 years of craftsmanship with continued investment in design, quality and modern production capabilities.

Bosses say the funding package will provide additional working capital to support operational investment, strengthen production capacity and give the company greater financial flexibility to respond to future market opportunities.

Karl Walker, managing director at Lebus Upholstery, said: “We work with leading furniture retailers across the UK and Ireland and are constantly striving to build on our excellent reputation. 

“This backing from IGF will play a pivotal role in our long-term growth strategy, enabling us to keep pace with market dynamics and consistently meet our customers' evolving requirements.”

IGF structured the facility to align with Lebus Upholstery’s growth ambitions.

The deal was originated by John Savage, who worked alongside Kirsty Wilgoss on underwriting and structuring the funding.

John Savage, ABL director at IGF in Leeds, added: “It’s fantastic to support a thriving, long-established local business as they scale up their investments and enter their next chapter of growth. 

“Asset-based lending is a highly flexible solution designed to provide robust working capital during critical expansion periods. 

“Lebus Upholstery is a fantastic example of British manufacturing excellence, and this funding will allow them to significantly enhance their market offering.”

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