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Danish furniture manufacturer Tvilum has secured a €10.5m term loan from Gordon Brothers Europe and an unnamed US based lender.


The loan — agreed earlier this year — is secured against the ready-to-assemble cabinet maker’s machinery and equipment, real estate and inventory.


It will be used to support the producer’s restructuring and growth plans, according to a statement from Gordon Brothers Europe.


Tvilum — sold by Masco Corp to Revolution Capital in late 2013 — sells in 20 countries worldwide including the UK, manufacturing from four factories with sales in the order of DKK 1.5bn, about £143m at current exchange rates.