Direct Heating Group
Direct Heating Group, the Greater Manchester-based online retailer specialising in stoves, fireplaces and outdoor living, received investment from Arete and the TDC Impact Fund to support its growth.Client website
- Date: April 22
- Industry: Consumer goods
- Location: North West
- Type: Acquisition
- Revenue: £1.8m
- Fund: TDC Impact Fund
£1.8m of funding to support the MBO and acquisition of Direct Heating Group by Arete Capital. The funding will be used to support the business in its growth aspirations and increase jobs.
TDC value add
Through the investment, which will be used to develop IT systems and build out its route to market by rolling out several flagship stores in key locations around the UK, the new brand is expected to generate £20m sales in the next year and considerably grow its team.
We believe we offer a distinct service unlike any other retailer in the UK, and, with help from Arete, we will be able to finetune this offering and extend our reach to a wider proportion of the UK home and lifestyle market. We are delighted to have the backing of Arete and TDC as M&A could form a significant part of our growth.
Adam Leah, founder at Fireplace Warehouse