A private equity owner has secured investment from Blandford Capital in a deal worth £85m. The acquisition includes the purchase of, a well-established UK-based furniture and soft furnishings business.
Photo: The Belfield Group.
TBG, which encompasses Westbridge Furniture, Tetrad, Belfield Leisure, and Clinchplain, operates from sites in North Wales, Lancashire, Derbyshire, and Romania, employing nearly 1,000 staff, all of whom will stay with the company.
The Belfield Group will now form part of the TBG Furniture umbrella. Tom Prestwich, CEO of TBG, and his management team will remain at the helm under the new ownership. Neville Kahn, founding partner of Blandford Capital, expressed excitement about partnering with TBG, noting its strong reputation for high-quality upholstered and soft furnishings. He added that they are eager to explore new growth opportunities in both the UK and export markets.
Keven Parker, managing partner at NorthEdge Capital, acknowledged the positive partnership with the business and wished the company continued success with its new owners.
Prestwich highlighted the company's commitment to maintaining excellent service, saying: 'We are delighted to be working with the Blandford team during this exciting next phase of growth. We will continue to provide an incredible service with passion and enthusiasm, delivered by a highly skilled team.'
Source: www.thebusinessdesk.com