Furniture and flooring repair and care company Furniture Clinic has secured a £500,000 investment.
The Consett, Durham company plans to invest in its factory and look to boost exports.
The funds were secured from Finance Durham Fund, managed by Maven Capital Partners.
‘We’ve seen 50% year on year growth over the past two years with the creation of new product ranges. The process of developing and launching new products is becoming more complex as we grow, and this investment will make sure we have the right people and finance available to continue to roll out new products and grow sales. We look forward to working alongside Maven as they support us in our ambitious growth plans,’ says Ben Staerk, Furniture Clinic md.
‘We’re delighted to support Furniture Clinic, an established and growing local company, headquartered in County Durham, manufacturing a substantial product range to a number of markets,’ says Michael Dickens, Maven investment manager.
‘Ben has built an impressive business and it’s great to provide funding at this time as it looks to invest further in expansion as well as create new jobs in the area. This investment is Maven’s 50th since we opened two offices in the region in 2017 and it’s a great testament to the number of innovative, high growth businesses the North East is home to.’
Furniture Clinic plans to recruit a dozen staff, bringing numbers close to 80 and target European sales.
‘We are delighted to have been able to invest in Furniture Clinic through Finance Durham, and also to assist the company to expand its Consett base with a capital grant from our County Durham Growth Fund. It’s fantastic to support this home-grown business as it grows both nationally and internationally and to help them as they explore exciting new markets for their products,’ says Councillor James Rowlandson, Durham County Council cabinet member for resources, investment and assets.
‘We encourage more businesses to follow suit and access the funding opportunities we have available through our Business Durham team to create more and better jobs and contribute towards a strong competitive economy for the future.’
The £20m Finance Durham Fund was established by Durham County Council and is overseen by Business Durham, the business support service of Durham County Council.
