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FURNISHINGS group Belfield has acquired upmarket sofa maker Tetrad in a deal that expands its reach into the high-end upholstery market.

 

Ilkeston based Belfield, whose other interests include North Wales sofa manufacturer Westbridge and foam supplier Duflex, has bought 100 percent of the £17 million turnover Preston manufacturer.


Managing director and until-now principal shareholder Janus Cooper will remain with the company in the same role moving forward, Belfield group CEO Stephen Hampton confirmed to The Furnishing Report at the Manchester Furniture Show.


Terms of the deal have not been disclosed.


In prepared remarks, Mr Hampton said: “Tetrad is a heritage brand that we have admired for many years. Its innovative, design-led approach has boosted its reputation in the market and we’re delighted for the business to become part of the Belfield Group. We now have huge potential to increase market share while continuing to manufacture upholstered pieces of the highest quality.


“I very much look forward to working with Janus and his team to continue the good work that has been delivered over recent years and to building the brand and expanding its customer base and sales. We will invest heavily in the Tetrad division in order to capitalise on its growth potential.”


Belfield Group secured funding from private equity firm NorthEdge Capital in a management buyout in July 2016. With an annualised turnover approaching £200 million, it currently employs about 2,000 staff, and operates from seven sites across the UK, with a purpose built facility in Romania.


Ben Wildsmith, director at NorthEdge Capital, added: “We backed Belfield last year and have been really impressed by the quality and depth of the group’s management team. All four divisions of the group have performed exceptionally well in navigating events post-Brexit, while achieving strong and profitable growth across the business. Belfield is now in an excellent position, with clear strategic growth plans and is well placed to explore further acquisitions. We are excited by what can be achieved over the coming years.”


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