Stockport-based Home Space Direct has undergone a management buy-in, led by DBL Capital.
The move included a “six-figure” investment from NPIF II – Capital Debt Finance and was supported by additional funding from LGC Industries.
This cash is being used to invest in, and grow the ecommerce element of the business and streamline its supply chain and digital infrastructure.
The online homeware retailer was founded in 2007 and as well as its direct to consumer website, it operates as a marketplace seller across major retail platforms, including Debenhams and Tesco.
“Alongside strengthening our partnerships with leading suppliers, we’ll also develop our own exclusive product ranges and explore carefully selected acquisition opportunities that complement the business and support our long-term growth ambitions,” explained David Adamson, Managing Director at Home Space Direct.
“The investment from FW Capital gives us the platform to accelerate these plans, and we’re excited about the future as we continue building Home Space Direct into one of the UK’s leading online homeware retailers.”
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Barry Wilson, Investment Executive at FW Capital added:
“The new leadership team led by David is focusing on scaling the company’s e-commerce platform and building a sustainable, long-term growth model in the highly competitive home textiles sector. The team have 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 them to scale up.”
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m.
