Homewares firm weaves growth plans with buy-in

An online homewares firm is targeting growth after a management buy-in.

DBL Capital has completed a move for Home Space Direct.

Officials say the deal will help expand the Stockport-based company’s product range, “streamline” its supply chain and digital infrastructure, and pave the way for potential acquisitions. 

The move was supported by a six-figure investment from NPIF II – FW Capital Debt Finance and additional funding from LGC Industries.

Founded in 2007, Home Space Direct is known for bedding, curtains and soft furnishings, and counts partnerships with retailers including Debenhams and Tesco.

David Adamson, managing director, said: “We’ve built a strong reputation for offering quality homeware backed by excellent customer service, and we’re excited to build on that.

“With more than 25 years’ experience of growing leading retail and e-commerce businesses, I know there is opportunity to grow the brand through continued investment in our digital platform, customer experience and product offering.

“Alongside strengthening our partnerships with leading suppliers, we’ll also develop our own exclusive product ranges and explore carefully selected acquisition opportunities.”

NPIF II – FW Capital Debt Finance is managed by FW Capital as part of the Northern Powerhouse Investment Fund II.

Barry Wilson, FW Capital investment executive, said: “The team has lots of new ideas and a firm desire to grow the business further.

“It’s fantastic to assist the business during this critical period and bring investment that is helping it to scale up.”

Overseen by British Business Bank, the £660 million Northern Powerhouse Investment Fund II covers the North of England and provides loans from £25,000 to £2 million and equity investment up to £5 million to small and medium-sized businesses.

Sue Barnard, British Business Bank senior investment manager, added: “Investing in businesses like Home Space Direct, as it enters this next phase, helps drive innovation through product development and technology advancement.”

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