Maven supports manufacturer and retailer of furniture care products to create new jobs in County Durham
The Finance Durham Fund, managed by Maven Capital Partners (“Maven”), established by Durham County Council and overseen by Business Durham, has supported local business, Furniture Clinic Ltd (“Furniture Clinic”), with a £500,000 funding package. The investment will enable the business to embark on a programme of growth to invest in the development of its factory in Consett and create 12 new jobs in County Durham.
Furniture Clinic manufactures a range of premium cleaning and restoration products providing a range of specialist leather, fabric and wood products used in many industries. The product range has recently expanded to include a full range of specialist products used to repair and restore wood and flooring. Everything is produced in-house from product R&D and testing to production.
Named one of America’s fastest growing companies, the business exports its award-winning products internationally, and the funding will also be used to expand its presence overseas and begin selling in European countries. Furniture Clinic already supports an impressive range of high-profile customers including Harrods, Rolls Royce, John Lewis, Four Seasons Hotels, NHS, Royal Airforce and DFS.
The company was originally established between father and son Keith and Ben Staerck. Ben took over from his father as Managing Director in 2012 after helping him grow the business and develop the company’s digital presence to expand internationally. Ben is supported by a dedicated and knowledgeable management team and the business currently employs over 60 staff in the UK.
Michael Dickens, Investment Manager at Maven, said: “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. 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.”
Ben Staerck, Managing Director of Furniture Clinic, said: “We’ve seen 50% year on year growth over the last 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.”
Cllr James Rowlandson, cabinet member for resources, investment and assets at Durham County Council, said: “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.
“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.”Source: Maven