Belfield adds Tetrad to its portfolio
Upholstery manufacturer Tetrad has been bought by Westbridge parent Belfield Group.
The NorthEdge Capital backed furniture business has bought Tetrad to strengthen its services in the high end upholstery designer and manufacturing market. Established 45 years ago, Tetrad has annual turnover of £17m.
Tetrad’s products will continue to be manufactured at its Preston facility and will be sold through existing sales channels. Janus Cooper will remain in his role as md of as part of the Belfield Group.
‘Tetrad is a heritage brand that we have admired for many years. Its innovative, design-led approach has boosted its reputation in the market and we’re delighted for the business to become part of the Belfield Group. We now have huge potential to increase market share while continuing to manufacture upholstered pieces of the highest quality. I very much look forward to working with Janus and his team to continue the good work that has been delivered over recent years and to building the brand and expanding its customer base and sales. We will invest heavily in the Tetrad division in order to capitalise on its growth potential,’ said Stephen Hampton, Belfield Group ceo.
Belfield Group, which has experienced strong growth over the last few years, secured funding from private equity firm NorthEdge Capital in a management buyout in July 2016, which saw NorthEdge Capital own 60% and by its management 40%. The group has an annualised turnover approaching £200m and currently employs approximately 2,000 staff. It operates from seven sites across the UK, with a purpose built facility in Romania.
Ben Wildsmith, NorthEdge Capital said: ‘We backed Belfield last year and have been really impressed by the quality and depth of the group’s management team. All four divisions of the group have performed exceptionally well in navigating events post the Brexit vote, while achieving strong and profitable growth across the business. Belfield is now in an excellent position, with clear strategic growth plans and is well placed to explore further acquisitions. We are excited by what can be achieved over the coming years.’