9 July 2018
NorthEdge Capital has announced the close of NorthEdge Capital SME Fund I, LP (“SME Fund I”, “the Fund”) at its £120 million hard cap. The Fund was raised from existing investors and enables the firm to broaden its ability to take advantage of attractive investment opportunities in the U.K. regional lower mid-market.Find out more
Belfield is the UK’s largest white label manufacturer of home furnishings and one of Europe’s largest manufacturers specialising in the wholesale and distribution of products including upholstered furniture, soft furnishings, mattresses and curtains.
Headquartered in Ilkeston, Belfield works with a range of blue chip, high street retailers including M&S, Next, Ikea, John Lewis and Furniture Village. The company reported turnover of £132m in the 12 months to December 2015
Belfield operates in the furniture, furnishings and bedding sector, which is currently worth around £3.5bn in the UK.
With support from NorthEdge, the company will focus on its UK position to drive shorter lead times for customers; continue to deliver its collaborative design-led offering and leverage economies of scale to compete on price.
John Rastrick, Partner and Head of Yorkshire and the North East at NorthEdge, said: “Belfield is the largest white label manufacturer of home furnishings in the UK with an impressive customer base ranging from British high street names and national blue chip brands to high growth online retailers. We have been impressed with the ability of the management team to manufacture in high volumes such a broad range of quality products. It is down to their design expertise and operational efficiency that the business has achieved such a strong offering in a sizeable and highly fragmented market.
“Our focus will be on helping Belfield to grow sales with existing customers, as well as targeting new opportunities and we are looking forward to working with Steve and the management team.”